Sector Update: Consumer Discretionary Stocks Falling Hard in Tuesday Trading

Tuesday, May 4, 2021 1:16 PM | MT Newswires

Consumer stocks were broadly lower in Tuesday trading, with the SPDR Consumer Staples Select Sector ETF dropping 0.6% while the SPDR Consumer Discretionary Select Sector ETF was sinking over 1.9%.

In company news, iRobot (IRBT) fell over 11% after its CEO late Monday warned the homewares company will need to "carefully manage" spending due to the limited availability of semiconductor chips boosting costs along with increasing raw material, freight and transportation costs.

Camping World Holdings (CWH) rose 7% after the recreational vehicles seller reported non-GAAP Q1 net income of $1.40 per share share on $1.56 billion in sales, reversing a year-ago net loss and rolling past the Capital IQ consensus expecting a $0.74 per share profit, excluding one-time items, on $1.31 billion in sales.

Sealed Air (SEE) climbed 9.1% after the food packaging company reported Q1 financial results exceeding Wall Street estimates and also raised its 2021 revenue forecast above analyst projections.

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