Sector Update: Consumer Stocks Hanging On For Wednesday Advance

Last Updated: Wednesday, July 13, 2022 3:59 PM | MT Newswires

Consumer stocks were ending higher during Wednesday trading, with the SPDR Consumer Staples Select Sector ETF (XLP) climbing 0.3% while the SPDR Consumer Discretionary Select Sector ETF (XLY) was adding 1.0%.

In company news, Stitch Fix (SFIX) gained 14% after an overnight regulatory filing showed board member J William Gurley bought 1 million of the online apparel company's shares at a weighted average of $5.4282 apiece and nearly doubled his stake in the company to nearly 2.15 million shares.

Ambev (ABEV) climbed 6.2% following a JPMorgan upgrade of the Brazilian beer and soft-drinks company to overweight from neutral previously.

Neptune Wellness Solutions (NEPT) rose 12%, reversing a morning decline, after the plant-based foods company said its Sprout Foods baby-foods subsidiary received an extra $15 million in proceeds from a revised loan agreement, with the expanded $3 7.5 million secured promissory note set to mature in February 2024.

Delta Air Lines (DAL) dropped 4.5% on Wednesday after reporting a Q2 profit trailing Wall Street expectations. Excluding one-time items, the carrier earned $1.44 per share during the three months ended June 30, lagging the Capital IQ consensus expecting non-GAAP net income of $1.72 per share.

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