Sector Update: Consumer Stocks Decline Thursday Afternoon
Consumer stocks were lower Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.7% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) falling 1.1%.In corporate news, Darden Restaurants (DRI) issued a full-year earnings outlook below market estimates on Thursday, and the restaurant operator's fiscal Q4 sales fell short of expectations. Its shares fell 1.3%.McCormick (MKC) reported fiscal Q2 results above Wall Street's estimates on Thursday, while reiterating its full-year outlook. McCormick shares gained 3.8%.Cal-Maine Foods (CALM) and other egg producers may soon resolve Justice Department and state investigations into alleged illegal price coordination, Bloomberg reported. Cal-Maine Foods shares were down 2.8%.
