Top Consumer Stocks
Consumer stocks were mostly lower, with shares of consumer staples companies in the S&P 500 sliding nearly 1.4% this afternoon while shares of consumer discretionary firms in the S&P 500 were retreating over 1.9%.
Among consumer stocks moving on news:
(+) Starbucks ( SBUX ) advanced Tuesday, rising nearly 1%, after saying it will expand its Starbucks Delivers program to San Francisco beginning on Wednesday and five more cities in coming weeks following a successful pilot partnership with Uber Eats in Miami.
In other sector news:
(+) eBay ( EBAY ) jumped as much as 12% higher on Tuesday after Elliott Management disclosed owning a 4% stake in the online auction site and outlined a five-point plan it said could double the company's stock price over the next two years. The company said it would "carefully review and evaluate" the Elliott proposals, which include spinning off its StubHub ticket reseller and eBay classifieds businesses.
(+) New Oriental Education & Technology Group ( EDU ) climbed 7% late Tuesday after reporting adjusted Q2 net income of $0.14 per American depositary share, more than doubling the Capital IQ consenus expecting $0.06 per ADS. Revenue grew 27.8% over year-ago levels, also topping analyst estimates.
(-) Stanley Black & Decker ( SWK ) retreated Tuesday, falling over 15% in recent trading after projecting adjusted FY19 net income in a range of $8.45 to $8.65 per share, lagging the Street view by at leat $0.15 per share.
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