Markets

Consumer Sector Update for 10/13/2021: ANGI, SNBR, GRWG

Consumer stocks were moderately higher in Wednesday trading, with the SPDR Consumer Staples Select Sector ETF (XLP) climbing 0.3% while the SPDR Consumer Discretionary Select Sector ETF (XLY) was rising 0.5%.

In company news, Angi (ANGI) rose 8.7% after the home-services firm reported an 18% increase in revenue during September compared with year-ago levels, including a 21% year-over-year rise in marketplace and services revenue last month.

Among decliners, Sleep Number (SNBR) slid 5.5% after UBS cut its price target for the mattress company by $10 to $100 a share and reiterated its neutral rating for the company's stock.

GrowGeneration Corp. (GRWG) dropped almost 12% after the garden centers chain said Wednesday said it was terminating its planned acquisition of HGS Hydro by mutual agreement and cut its FY21 sales forecast to reflect the absence of around $20 million in revenue HGS Hydro had been expected to produce for the combined companies. GrowGeneration also announced its acquisition of All Seasons Gardening, which operates three garden supply stores in New Mexico.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

ANGI SNBR GRWG

Latest Markets Videos

MTNewswires

Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

Learn More