Consumer stocks were mixed, with the SPDR Consumer Staples Select Sector ETF Wednesday slipping 0.2% while the SPDR Consumer Discretionary Select Sector ETF was posting a 0.8% gain.
Stocks moving on news include Walt Disney (DIS) racing 8.7% higher after the media and entertainment conglomerate late Tuesday surprised Wall Street by posting non-GAAP net income of $0.08 per share for its fiscal Q3 ended June 30, down from a $1.34 per share adjusted profit during the same quarter last year but still beating the Capital IQ consensus expecting a Q3 net loss of $0.67 per share, excluding one-time items.
Monster Beverage (MNST) rose 6% after JPMorgan increased its price target by $7 to $84 a share and reiterated its neutral rating for the company's stock.
Energizer Holdings (ENR) fell 15% on Wednesday after the company reported non-GAAP net income of $0.50 per share for its fiscal Q3 ended June 30, up from $0.37 per share during the prior-year period but still lagging the Capital IQ consensus expecting the battery producer to earn $0.59 per share, excluding one-time items. The company also is projecting adjusted FY20 net income in a range of $2.45 to $2.55 per share, trailing the $2.80 a share Street view.
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