|Bid||63.96 x 40000|
|Ask||64.48 x 28000|
|Day's Range||64.04 - 64.24|
|52 Week Range||51.45 - 64.24|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||1.64%|
|Beta (5Y Monthly)||0.61|
|Expense Ratio (net)||0.13%|
Fairway Market issued a statement via its Twitter account saying it's not filing for bankruptcy. "Despite reports, Fairway Market has no intention to file for chapter 7 or liquidate all of its stores," the iconic New York City grocer wrote. "All 14 stores remain open for business, offering a complete range of high quality, specialty food products, and we look forward to seeing our customers and employees." The New York Post previously reported that Fairway was on the verge of bankruptcy and would be closing all of its locations, though interest from Village Super Market Inc. could save a "handful" of stores. Fairway, which was previously publicly traded, has struggled in the past. An ill-timed expansion and debt drove a chapter 11 filing in 2016. It emerged from bankruptcy with a new board and consortium ownership that included Blackstone Group's GSO Capital Partners. Blackstone's GSO no longer has a position in the company. The Consumer Staples Select Sector SPDR Fund is up 23.4% over the past year while the S&P 500 index has gained 26.6% for the period.
Reynolds Consumer Products set terms of its initial public offering Tuesday, to raise up to $1.32 billion and to value the consumer products company at up to $5.07 billion. The company, which brands include Reynolds Wrap, Hefty and Alcan, said it will offer 47.17 million shares in the IPO, which is expected to price between $25 and $28 a share. The company said there will be 202.63 million shares outstanding after the IPO. If the underwriters, led by Credit Suisse, Goldman Sachs and J.P. Morgan, exercise all the options to buy additional shares, Reynolds Consumer could raise up to $1.52 billion. The company recorded net income of $135 million on revenue of $2.20 billion over the nine months ended Sept. 30, compared with net income of $92 million on revenue of $2.24 billion in the same period a year ago. The company is looking to go public at a time that the Renaissance IPO ETF has rallied 17.4% over the past three months, while the SPDR Consumer Staples Select Sector ETF has gained 4.7% and the S&P 500 has tacked on 10.7%.
The coffee industry is a complex and multilayered one, including everything from producers and distributors to processors, wholesalers, and retailers, including Starbucks Corp. (SBUX), JM Smucker Co. (SJM) and Restaurant Brands International Inc.
Nearby resistance combined with common technical sell signals suggest that the consumer staples sector could be headed for a pullback.
Shares of Colgate-Palmolive Co. slumped 0.9% in morning trading Thursday, to buck the gains in its consumer staples peer group and the broader stock market, after BofA Securities downgraded the consumer products company, citing concerns over continued market-share losses. Analyst Olivia Tong cut her rating to neutral from buy, and lowered her price target to $74 from $77. "While we continue to view [Colgate-Palmolive] as one of the higher quality names in consumer staples, with dominant market shares, low private label exposure, geographic depth, and a more aggressive stance in driving growth, struggles to stem share losses in toothpaste and tough [comparisons] drive our concern that conditions will be more challenging next year, potentially necessitating another year of outsized investment," Tong wrote in a note to clients. The stock's decline comes while the SPDR Consumer Staples Select Sector ETF gained 0.4% and the S&P 500 tacked on 0.2%.
High Ridge Brands Co. announced Wednesday that it has filed for voluntary chapter 11 bankruptcy and is pursuing sale of the company. High Ridge's portfolio includes Zest soap, Alberto VO5 hair care products, and the Reach toothbrush. High Ridge says the company's U.K. business operations are not included in the bankruptcy filing. High Ridge has received a commitment of $20 million debtor-in-possession financing, and the company says it has enough liquidity to continue with business obligations including making deliveries in full and paying suppliers. The Consumer Staples Select Sector SPDR ETF is up 23.7% for the year to date while the S&P 500 index is up 27.5% for the period.
Shares of General Mills Inc. rose 1.6% in premarket trading Wednesday, after the consumer foods company reported a fiscal second-quarter profit that beat expectations, while revenue came up a bit shy. Net income for the quarter to Nov. 24 rose to $580.8 million, or 95 cents a share, from $343.4 million, or 57 cents a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share of 95 cents beat the FactSet consensus of 88 cents. Sales inched up to $4.42 billion from $4.41 billion, just below the FactSet consensus of $4.43 billion, as North America retail sales were in line with expectations, convenience stores and foodservice sales missed and pet sales beat. The company affirmed its fiscal 2020 adjusted EPS growth guidance of 3% to 5%; the FactSet EPS consensus of $3.36 implies 4.3% growth. The stock has lost 4.3% over the past three months, while the SPDR Consumer Staples Select Sector ETF has gained 3.3% and the S&P 500 has advanced 6.2%.
Shares of Unilever PLC tumbled 9.11% toward a 9-month low in afternoon trading Tuesday, after the U.K.-based consumer goods giant warned of a sales miss for the year. The stock was on track to suffer the biggest one-day percentage decline since May 2003. The company said earlier that it expects 2019 sales growth to be below its previous guidance, of the "lower half" of its 3% to 5% multi-year range. "This is a result of challenges in the quarter in some markets, including the economic slowdown in South Asia, one of Unilever's largest markets, and trading conditions in West Africa remaining difficult," the company said in a statement. "The trading environment in developed markets continues to be challenging and while there are early signs of improving performance in North America, a full recovery there will take time." The stock has gained 7.7% year to date, while the SPDR Consumer Staples Select Sector ETF has run up 24.0% and the S&P 500 has surged 27.5%.
The Consumer Staples Select SPDR (NYSEArca: XLP) is staving off trade war news and hitting new highs, which could have consumer staples riding alongside its wave with strength in defensive equities over ...
Shares of Campbell Soup Co. swung to a gain of 1.3% in midday trading Tuesday, after the soups, simple meals and snacks company reported fiscal first-quarter profit that topped expectations, although sales that fell short. The gains reverse a premarket loss of as much as 2.5% right after the release of results. Net income for the quarter to Oct. 27 fell to $166 million, or 55 cents a share, from $194 million, or 64 cents a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share came 78 cents, above the FactSet consensus of 71 cents. Net sales slipped 0.9% to $2.18 billion from $2.20 billion, to miss the FactSet consensus of $2.19 billion. Meals and beverages sales fell 3% to miss the FactSet consensus of $1.22 billion, while snack sales rose 2% to $989 million to beat expectations of $968.7 million. "Strong in-market consumption on U.S. soup was offset by the timing of shipments related to the Thanksgiving holiday," said Chief Executive Mark Clouse. For fiscal 2020, the company lowered its sales growth guidance to down 1% to up 1% from up 1% to up 3%, to reflect the sale of the European chips business in October, but affirmed its adjusted EPS estimate of $2.50 to $2.55. The stock has run up 46.1% year to date, while the SPDR Consumer Staples Select Sector ETF has rallied 22.7% and the S&P 500 has gained 24.2%.
Yahoo Finance's Jared Blikre joins Zack Guzman, Julia LaRoche and Clearnomics Founder & CEO James Liu on YFi PM to break down the best and worst performing sectors in 2019.
Although Fed Chair Jerome Powell outlined an optimistic outlook about the economy, the Central Bank leader signaled that low inflation could mean higher interest rates in the near future. Yahoo Finance’s Akiko Fujita and U.S. Bank Wealth Management’s Lisa Erickson discuss on The Ticker.