Top Consumer Stocks
Consumer stocks were posting sizable gains in recent trade, with shares of consumer staples companies in the S&P 500 climbing 0.6% this afternoon while shares of consumer discretionary firms in the S&P 500 were ahead 2%.
Among consumer stocks moving on news:
(+) Yunji (YJ) was 2% higher, drifting off a nearly 16% earlier Tuesday. The Chinese e-commerce platform reported a 53.2% year over year increase in Q1 revenue, rising to RMB3.39 billion during the three months ended March 31 from RMB2.21 during the same quarter last year.
In other sector news:
(+) Tiffany & Co. (TIF) rose 3.5% after the luxury retailer reported above-consensus Q1 net income, earning $1.03 per share during the three months ended April 30, slipping from a $1.14 per share profit during the same quarter last year but still beating the Capital IQ consensus by $0.01 per share.
(-) MercadoLibre (MELI) slid 3.4% Tuesday after BTIG Research lowered its investment rating for the Latin American e-commerce platform to neutral from buy.