Consumer stocks were higher late Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 0.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 0.1%.
In corporate news, Nike (NKE) shares fell 2.8% after JPMorgan downgraded the stock to underweight from neutral, and cut the price target to $40 from $47.
Ethos (LIFE) reported Monday fiscal Q2 adjusted earnings of $0.53 per diluted share, up from $0.32 a year earlier.Four analysts polled by FactSet expected $0.33.Revenue for the quarter ended June 30 was $189.6 million, up from $88.8 million a year ago.Analysts expected $117.3 million.The company expects Q3 revenue of $160 million to $164 million. Analysts expect $120 million.For the full fiscal year 2026, Ethos now expects total revenue of $727 million to $731 million. Analysts expect $564.9 million.Ethos also announced that its board authorized a share repurchase program of up to $100 million of its outstanding Class A common stock.
Custom Truck One Source (CTOS) reported Q2 earnings late Monday of $0.05 per diluted share, compared with the loss of $0.13 a year earlier.Four analysts polled by FactSet expected earnings of $0.01.Revenue in the three months ended June 30 rose to $563.4 million from $511.5 million a year ago.Analysts surveyed projected $509.8 million.The company expects full-year revenue of $2.1 billion to $2.2 billion. Analysts project $2.05 billion.The company's shares jumped 10% in after-hours trading.
Alexandria Real Estate Equities (ARE) reported Q2 funds from operations late Monday of $1.73 per diluted share, down from $2.33 a year earlier.Analysts polled by FactSet expected $1.64.Revenue in the three months ended June 30 fell to $662.8 million from $762 million a year earlier.Alexandria Real Estate projects Q4 adjusted funds from operations at the lower end of its previous guidance of $1.40 to $1.50 a share.The company expects 2026 adjusted funds from operations of $6.35 to $6.45 a share, compared with the previous forecast of $6.30 to $6.50.The company's shares rose 1.8% in after-hours trading.