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Sector Update: Consumer Stocks Mixed Wednesday Afternoon

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Consumer stocks were mixed Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) 0.1% lower.

In corporate news, Philip Morris International (PM) shares jumped past 6% after it reported Q1 results above market estimates.

AT&T (T) reported better-than-expected Q1 results on Wednesday, while the telecommunications giant reiterated its full-year earnings outlook. AT&T shares were 0.3% lower.

Best Buy (BBY) shares fell 4.8% after the firm said Corie Barry will step down as chief executive at the end of Q3, with Jason Bonfig, chief customer, product and fulfillment officer, set to succeed her.

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