Consumer stocks are mixed today with shares of consumer staple companies in the S&P 500 advancing 0.5%. Shares of consumer discretionary stocks in the S&P are down nearly 0.1%.
In company news, Brinker International Inc.'s ( EAT ) is narrowly lower at $41.37 a share, down 0.1%, in late trade, swinging between small gains and losses through most of the day after the restaurant chain announced a 20% increase in its quarterly dividend and expanded its stock buyback program by another $200 million.
The new dividend will be $0.24 per share - up from $0.19 in the prior quarter - payable Sept. 26 to shareholders of record on Sept. 6.
The EAT board also increased its share repurchase program by $200 million, raising its overall size to around $480 million.
In other sector news,
(+) ROST, Q2 earnings of $0.98 per share beat FactSet consensus expecting $0.93 per share. Sales rose 8.7% year over year to $2.5 billion, matching forecasts. Also, FBR Capital raised its price target for ROST shares by $3 to $77 a share.
(-) ARO, Q2 per-share net loss of $0.34 is $0.09 wider than analyst consensus. Revenue falls 6% year over year to $454.03 mln, in-line with estimates.
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