Consumer stocks were trading flat-to-higher before markets open on Wednesday. Shares of staples companies in the S&P 500 (XLP) were up fractionally, while the consumer discretionary firms (XLY) added 0.7%.
Stocks on the move include Beyond Meat (BYND), which declined more than 8% after the company reported Tuesday a Q2 adjusted loss per diluted share of $0.02, compared with earnings of $0.05 per share a year earlier. Analysts polled by Capital IQ projected a loss of $0.02 per share.
Ethan Allen Interiors (ETH) was also down more than 8%. The furniture company swung to a fiscal Q4 adjusted loss of $0.15 per share from adjusted earnings of $0.46 per share a year earlier. Analysts polled by Capital IQ had expected an adjusted loss of $0.37 per share.
Weyco Group (WEYS) slipped more than 1%. The footwear company on Tuesday posted a Q2 net loss of $0.91 per share, compared with earnings of $0.15 per share in the year-ago quarter. The company said "second-quarter results have been "significantly" impacted by the ongoing COVID-19 pandemic as most of its retail locations were temporarily closed in compliance with federal and state policies.
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