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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) decreasing 0.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 2.2%.

In corporate news, Lowe's (LOW) reported fiscal Q1 results above market estimates, while the home improvement retailer affirmed its full-year outlook. Shares rose 0.8%.

Hasbro (HAS) shares dropped past 6%. The company reported a Q1 operating loss for the consumer products division amid largely flat sales even as the toymaker delivered stronger-than-expected results at the consolidated level.

Target (TGT) raised its full-year sales growth outlook on Wednesday as the retailer recorded higher-than-expected fiscal first-quarter results. Shares still fell 4%.

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