Consumer stocks still were moderately higher in late trade, with shares of consumer staples companies in the S&P 500 adding just over 0.24% in value this afternoon while the shares of consumer discretionary firms in the S&P 500 also were ahead nearly 0.6%.
Among consumer stocks moving on news:
(-) Hormel Foods (HRL) fell 2.6% on Thursday despite the processed food company earlier raising its FY19 profit forecast by $0.05 per share over its previous outlook, now projecting net income for the 12 months ending Oct. 31 in a range of $1.76 to $1.80 per share. Analysts, on average, have been looking for the company to earn $1.74 per share this year on a GAAP basis and $1.77 per share after excluding one-time items.
In other sector news:
(+) Bed Bath & Beyond (BBBY) raced 21.5% higher after the retailer late Wednesday named former Target executive (TGT) Mark Tritton to be its chief executive officer, effective Nov. 4. Tritton, who succeeds interim CEO Mary Winston, most recently was chief merchandising officer at Target.
(+) JetBlue Airways (JBLU) was fractionally higher after the discount airline Thursday reported a 3.4% increase in September traffic over year-ago levels. Load factor climbed 0.6 percentage points last month to 80.3% although the company also said it was expecting a 0.9% decline in Q3 revenue per available seat mile compared with the same quarter last year.
(-) Delta Air Lines (DAL) was nearly 2% lower in late trade, more than halving the 5% decline earlier Thursday that followed the carrier reporting $12.56 billion in total operating revenue for its Q3 ended Sept. 30, rising 5.1% over the same quarter last year but still trailing the Capital IQ consensus for the period by about $50 million.
Price: 41.76, Change: -1.08, Percent Change: -2.52
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