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Sectors

Sector Update: Consumer Stocks Advance Late Afternoon

Consumer stocks were higher late Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.8% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.6%.In sector news, Detroit's automakers plan to argue to the Trump administration that some proposals floated as part of an update to the US-Mexico-Canada Agreement could cost them billions of dollars and make them less competitive with foreign rivals, Reuters reported, citing two automakers' estimates. Among the most contentious proposals, is Washington's demand that, in order to qualify for a lower tariff, a vehicle must contain at least 50% US-made content, the report said.In corporate news, Keurig Dr Pepper (KDP) shares gained 4.6% after HSBC upgraded its rating on the company's stock to buy from hold, and raised its price target to $40 from $37.Birkenstock (BIRK) shares jumped 12% after its fiscal Q3 revenue rose year on year and beat analysts' estimates, and it updated its fiscal 2026 revenue growth guidance.Tapestry (TPR) provided a full-year outlook below Wall Street's estimates at the midpoint on Thursday, while the Coach and Kate Spade parent reported stronger-than-expected fiscal Q4 earnings. Tapestry shares dropped 15%.Yeti (YETI) lifted its full-year earnings outlook on Thursday following a surprise year-over-year increase in its fiscal Q2 bottom line, but the outdoor products company flagged weakness in its drinkware category in the US amid market pressure and competition. Its shares fell 10%.

$BIRK$KDP$TPR$YETI
Sectors

Sector Update: Consumer Stocks Rise in Afternoon Trading

Consumer stocks were higher Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.9% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.3%.In sector news, Detroit's automakers plan to argue to the Trump administration that some proposals floated as part of an update to the US-Mexico-Canada Agreement could cost them billions of dollars and make them less competitive with foreign rivals, Reuters reported, citing two automakers' estimates. Among the most contentious proposals, is Washington's demand that, in order to qualify for a lower tariff, a vehicle must contain at least 50% US-made content, the report said.In corporate news, Birkenstock (BIRK) shares jumped past 14% after its fiscal Q3 revenue rose year on year and beat analysts' estimates, and it updated its fiscal 2026 revenue growth guidance.Tapestry (TPR) provided a full-year outlook below Wall Street's estimates at the midpoint on Thursday, while the Coach and Kate Spade parent reported stronger-than-expected fiscal Q4 earnings. Tapestry shares dropped 14%.Yeti (YETI) lifted its full-year earnings outlook on Thursday following a surprise year-over-year increase in its fiscal Q2 bottom line, but the outdoor products company flagged weakness in its drinkware category in the US amid market pressure and competition. Its shares fell 11%.

$BIRK$TPR$YETI
Yeti Raises Fiscal 2027 Earnings Outlook But Flags Weakness in US Drinkware Category
US Markets

Yeti Raises Fiscal 2027 Earnings Outlook But Flags Weakness in US Drinkware Category

Yeti (YETI) lifted its full-year earnings outlook on Thursday following a surprise year-over-year increase in its fiscal second-quarter bottom line, although the outdoor products company flagged weakness in its drinkware category in the US amid market pressure and competition.The company now anticipates adjusted earnings to come in between $2.94 and $3 per share for fiscal 2026, up from its previous projections of $2.83 to $2.89. The current consensus on FactSet is for non-GAAP EPS of $2.89.The improved guidance reflects the firm's operating performance so far this year and the benefit of International Emergency Economic Powers Act tariff refunds, partially offset by an increase in inflationary pressures related to commodity transportation, distribution and fulfillment, Chief Financial Officer Scott Bomar said during an earnings call, according to a FactSet transcript.Yeti expects a roughly 600-basis-point drag on its drinkware growth in the US this year from three main stock keeping units, "all tied to the wealth publicized but narrow trend-driven momentum and share swapping that is played out in the category over the past few years," Chief Executive Matt Reintjes said on the call."That is a significant headwind, but it has been more than counterbalanced by strong execution of our diversification and innovation strategy across the rest of the platform," according to Reintjes. "The products driving the headwind will largely complete their lap by year-end, resetting the base as we head into 2027."Yeti continues to project sales to grow by 7% to 8% for the ongoing fiscal year, while the Street is looking for $2.01 billion, reflecting an annual increase of 7.6%.Shares of the company fell 12% in Thursday trade, reducing its year-to-date gain to 1.1%.For the quarter ended July 4, the firm's adjusted EPS ticked up to $0.67 from $0.66 the year before, defying the average analyst estimate for a decline to $0.54. Sales climbed 9% to $483.9 million, just ahead of the Street's view $483.8 million, buoyed by robust customer demand across channels and persistent international momentum, Yeti said.UBS Securities expected Yeti to report solid revenue growth in the quarter driven by favorable category dynamics, innovation and international expansion, according to a note sent last week."In an uneven consumer environment, demand across our product platforms remained strong," Reintjes said in the earnings release. "We also saw continued progress across our omni-channel model, including strong wholesale sell-through, healthy (direct-to-consumer) demand and improving trends in corporate sales."Sales of coolers and equipment jumped 16% to $232.4 million, while drinkware rose 2% to $241.4 million. In the US, drinkware revenue was flat amid continued market pressure and competition, Bomar told analysts on the call. Sales from the direct-to-consumer and wholesale channels gained 7% and 10%, respectively.In July, Hydro Flask maker Helen of Troy (HELE) raised its fiscal 2027 sales outlook after a stronger-than-expected fiscal first quarter. Stanley Black & Decker (SWK), which competes with Yeti in the premium insulated tumbler and mug industry, lifted its full-year earnings outlook last month.Price: $44.69, Change: $-6.15, Percent Change: -12.10%

$YETI
Research

Goldman Sachs Upgrades YETI to Buy From Neutral, Raise Price Target to $63 From $46

YETI (YETI) has an average rating of overweight and mean price target of $53.07, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$YETI
Wire

UBS Adjusts Price Target on YETI Holdings to $51 From $45, Maintains Neutral Rating

YETI Holdings (YETI) has an average rating of overweight and mean price target of $51.93, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $50.20, Change: $+1.87, Percent Change: +3.87%

$YETI
Sectors

Sector Update: Consumer Stocks Advance Late Afternoon

Consumer stocks were higher late Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.1%.In corporate news, Yeti (YETI) lifted its full-year earnings outlook on Thursday as the outdoor products company recorded better-than-expected fiscal Q1 results. Its shares climbed 5%.DraftKings (DKNG) faces a positive catalyst path from the FIFA World Cup driving incremental wagers during a low period over the next few months, Morgan Stanley said in a note. DraftKings shares rose nearly 1%.Tesla (TSLA) Chief Executive Elon Musk's SpaceX is facing opposition from leaders of three major US public pension systems over what they described as the company's "extreme" governance structure ahead of its planned initial public offering, Reuters reported. Tesla shares were down 0.3%.Paramount Skydance's (PSKY) acquisition of Warner Bros. Discovery (WBD) will be carefully scrutinized by European regulators, CNBC reported Thursday, citing a letter sent to Paramount Skydance Chief Executive David Ellison from a group of US and European lawmakers it viewed. Paramount shares fell 3.1%, and Warner Bros. was decreasing 0.5%.

$DKNG$PSKY$TSLA$WBD$YETI
Sectors

Sector Update: Consumer Stocks Rise in Afternoon Trading

Consumer stocks were higher Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.4%.In corporate news, Yeti (YETI) lifted its full-year earnings outlook on Thursday as the outdoor products company recorded better-than-expected fiscal Q1 results. Its shares climbed past 6%.Tesla (TSLA) Chief Executive Elon Musk's SpaceX is facing opposition from leaders of three major US public pension systems over what they described as the company's "extreme" governance structure ahead of its planned initial public offering, Reuters reported. Tesla shares were up 0.3%.Paramount Skydance's (PSKY) acquisition of Warner Bros. Discovery (WBD) will be carefully scrutinized by European regulators, CNBC reported Thursday, citing a letter sent to Paramount Skydance Chief Executive David Ellison from a group of US and European lawmakers it viewed. Paramount shares fell 1.5%, and Warner Bros. was down 0.4%.

$PSKY$TSLA$WBD$YETI
Sectors

Sector Update: Consumer

Consumer stocks were higher Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.3%.In corporate news, Yeti (YETI) lifted its full-year earnings outlook on Thursday as the outdoor products company recorded better-than-expected fiscal Q1 results. Its shares climbed 6%.

$YETI
Commodities

Exchange-Traded Funds, Equity Futures Advance Pre-Bell Thursday Amid US-China Meeting

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.4% and the actively traded Invesco QQQ Trust (QQQ) was 0.2% higher in Thursday's premarket activity amid a two-day meeting between the US and China.US stock futures were also higher, with S&P 500 Index futures up 0.3%, Dow Jones Industrial Average futures advancing 0.7%, and Nasdaq futures gaining 0.2% before the start of regular trading.US initial jobless claims rose to a level of 211,000 in the week ended May 9 from a downwardly revised 199,000 level in the previous week, compared with expectations for a smaller increase to 205,000 in a survey of analysts compiled by Bloomberg.US import prices rose by 1.9% in April, above the 1% increase expected in a survey compiled by Bloomberg as of 7:35 am ET and faster than a 0.9% gain in March.US retail sales rose by 0.5% in April, as expected in a survey compiled by Bloomberg as of 7:35 am ET and following the previous month's 1.6% gain.Business inventory data for March is due to be released at 10 am ET, followed by weekly natural gas stocks at 10:30 am ET.Federal Reserve Kansas City President Jeffrey Schmid, Cleveland President Beth Hammack, New York President John Williams, and Governor Michael Barr are slated to speak on Thursday.In premarket action, bitcoin was down by 10%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.2% lower, Ether ETF (EETH) advanced 0.2%, and Bitcoin & Ether Market Cap Weight ETF (BETH) retreated by 0.01%.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.2%. The Vanguard Health Care Index Fund (VHT), the iShares US Healthcare ETF (IYH), and the iShares Biotechnology ETF (IBB) were flat.Doximity (DOCS) stock was down more than 10% premarket after the company overnight reported a steeper-than-expected drop in fiscal Q4 adjusted earnings and sales guidance for the next financial year lagged market expectations.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) gained by 0.4%, and the iShares US Technology ETF (IYW) was 0.5% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 0.7%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased by 0.3%, while the iShares Semiconductor ETF (SOXX) fell by 0.1%.Cisco Systems (CSCO) shares were up more than 15% in premarket activity after the company reported forecast-beating fiscal Q3 results and said it plans to lay off about 4,000 employees, representing around 5% of its workforce.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.1%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 0.3%. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increased by 0.3%. The VanEck Retail ETF (RTH) retreated by 0.01%, while the State Street SPDR S&P Retail ETF (XRT) was 0.3% higher.Yeti (YETI) shares were up more than 10% pre-bell after the company reported better-than-expected fiscal Q1 adjusted net income and net sales.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.2%, while the Vanguard Industrials Index Fund (VIS) gained 0.04% and the iShares US Industrials ETF (IYJ) was inactive.Copa (CPA) stock was up more than 3% before the opening bell after the company reported higher Q1 earnings and operating revenue.EnergyThe iShares US Energy ETF (IYE) was down 0.3%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.02%.Consolidated Edison (ED) stock was down more than 2% before the opening bell. Goldman Sachs raised its price target on the company to $105 from $103 and maintained its sell rating.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.9%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.8% lower.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 0.1% to $100.95 per barrel on the New York Mercantile Exchange. Natural gas was down 0.7% to $2.84 per 1 million British Thermal Units. The United States Oil Fund (USO) decreased by 0.7%, while the United States Natural Gas Fund (UNG) was flat.Gold futures for May retreated by 0.1% to $4,700.30 an ounce on the Comex. Silver futures fell by 2.3% to $87.30 an ounce. SPDR Gold Shares (GLD) was 0.2% higher, and the iShares Silver Trust (SLV) declined by 0.8%.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$CPA$CSCO$DOCS$ED$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$PMR$QQQ$RTH$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD$YETI
Sectors

Sector Update: Consumer Stocks Steady Premarket Thursday

Consumer stocks were steady premarket Thursday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) slightly higher and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) inactive.Viking Holdings (VIK) shares were up more than 6% after the company posted a narrower Q1 adjusted loss as revenue rose during the period.Dillard's (DDS) stock was up more than 6% after the company reported higher fiscal Q1 earnings and net sales.Yeti (YETI) shares were up more than 9% after the company reported fiscal Q1 adjusted net income and net sales that topped analysts' expectations, and raised its fiscal 2026 adjusted EPS outlook.

$DDS$VIK$XLP$XLY$YETI
Yeti Raises Fiscal 2026 Earnings Outlook as First-Quarter Results Top Views
US Markets

Yeti Raises Fiscal 2026 Earnings Outlook as First-Quarter Results Top Views

Yeti (YETI) lifted its full-year earnings outlook on Thursday as the outdoor products company recorded better-than-expected fiscal first-quarter results.Adjusted earnings are now set to come in between $2.83 and $2.89 per share for fiscal 2026, up from its previous projections of $2.77 to $2.83. The current consensus on FactSet is for non-GAAP EPS of $2.81. The stock rose more than 4% in the most recent premarket activity.Sales are now pegged to grow by 7% to 8%, reflecting a higher low end versus the prior guidance for a gain of 6%. The Street is looking for nearly $2 billion."Our strong first-quarter performance reinforces confidence in our full-year outlook," Chief Executive Matt Reintjes said in a statement. "With a clear focus on our strategic priorities, we remain confident in our ability to drive long-term growth and profitability."For the three months through April 4, the cooler and thermos maker's adjusted EPS declined to $0.26 from $0.31, including a $0.09 headwind related to incremental tariffs. The average analyst estimate was for $0.18. Sales improved 8% to $380.4 million, ahead of the Street's view for $374.7 million."We delivered robust top and bottom-line execution that was broad-based across categories and channels," according to Reintjes. "Cautious ordering from our corporate partners across all global regions was a meaningful growth drag in the quarter."Sales of coolers and equipment advanced 11% to $156.1 million while drinkware rose 5% to $216.9 million, amid growth in the group's US and international operations. Direct-to-consumer channel sales were flat at $196.8 million, while wholesale revenue gained 19% to $183.6 million, "on the back of continued strength in consumer demand," Reintjes said.Gross margin decreased 210 basis points to 55.3% due to higher tariff costs, as well as a lower mix of the company's direct-to-consumer channel and drinkware category. Selling, general, and administrative expenses widened to $197.8 million from $180.1 million in the prior-year quarter.

$YETI
Equity Futures Rise as Trump, Xi Kick Off High-Stakes Meeting
US Markets

Equity Futures Rise as Trump, Xi Kick Off High-Stakes Meeting

US equity markets were tracking in the green before the opening bell Thursday as President Donald Trump held talks with his Chinese counterpart, Xi Jinping, at a high-stakes meeting in Beijing.The S&P 500 and the Nasdaq rose 0.2% each in premarket activity, while the Dow Jones Industrial Average added 0.6%. The S&P 500 and Nasdaq reached fresh peaks at Wednesday's close, while the Dow finished lower.Trump and Xi have agreed to develop a "constructive China-US relationship of strategic stability," according to a readout of the summit by the Chinese foreign ministry. "This will provide strategic guidance for China-US relations over the next three years and beyond," the readout showed.The relationship between the two countries is going to be "better than ever before," Trump told Xi in his opening remarks, CNBC reported, citing official broadcast footage.The leaders of the two global economic heavyweights agreed that the crucial Strait of Hormuz should remain open to support global energy flows, multiple news outlets reported. During their talks, Xi showed interest in buying more US oil to reduce China's dependence on the Strait of Hormuz and other Middle East shipping routes, according to news reports.West Texas Intermediate crude oil was down 0.2% at $100.80 a barrel before the open, while Brent was slightly in the red at $105.61.On Wednesday, the International Energy Agency forecast a sharper decline in global oil demand this year than previously expected as the Middle East conflict drives up energy prices. Separately, the Organization of the Petroleum Exporting Countries reduced its global oil demand growth outlook for 2026, but upgraded its projection for next year.Also on Wednesday, official data showed that US producer prices rose at the fastest pace in four years in April as broad-based increases in services and goods signaled intensifying inflation pressures.Treasury yields were down in premarket action, with the two-year rate retreating 2.1 basis points to 3.97% and the 10-year rate off 2.2 basis point to 4.46%.Thursday's economic calendar has the weekly jobless claims bulletin at 8:30 am ET, along with the retail sales and import and export prices reports, both for April.Federal Reserve Governor Michael Barr is scheduled to speak at 7 pm. Kansas City Fed President Jeffrey Schmid, Cleveland Fed President Beth Hammack, and New York Fed President John Williams all speak earlier in the day.On Wednesday, Boston Fed President Susan Collins said she expected the central bank to maintain its current monetary policy stance, describing it as "slightly restrictive."The US Senate confirmed Kevin Warsh's nomination as Fed chair Wednesday. Warsh is Trump's pick for the job, with the term of current central bank chief Jerome Powell set to expire on Friday.Cisco Systems (CSCO) shares jumped 17% pre-bell Thursday. Late Wednesday, Cisco's fiscal third-quarter results exceeded Wall Street's estimates, while the networking equipment maker announced a restructuring plan that involves thousands of layoffs.Marvell Technology (MRVL) added 3.8% pre-bell after closing the previous session with an 8.2% gain.Nvidia (NVDA) was 1.8% higher in premarket activity after Reuters reported that the US has cleared around 10 Chinese firms to buy the technology giant's H200 artificial intelligence chip. However, not a single delivery has been made so far, according to the report.Applied Materials (AMAT) is scheduled to release its latest quarterly financial results after the markets close. Viking (VIK), Klarna (KLAR), Bullish (BLSH) and Yeti (YETI) report before the bell, among others.Gold edged down 0.1% to $4,703 per troy ounce, while bitcoin nudged up 0.1% to $79,599.

Dow JonesNasdaq CompositeS&P 500$AMAT$BLSH$CSCO$KLAR$MRVL$NVDA$VIK$YETI
Wire

BofA Adjusts Price Target on YETI Holdings to $44 From $37, Maintains Neutral Rating

YETI Holdings (YETI) has an average rating of overweight and mean price target of $50.47, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $41.77, Change: $-0.69, Percent Change: -1.63%

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