Nature

Consumer Sector Update 8/4/2022: XLP, XLY, DBI, STG, KDP


VSConsumer stocks were tightly mixed heading into Friday’s market, with the SPDR Consumer Staples (XLP) fund gaining 0.1% while the SPDR Consumer Discretionary (XLY) fund was down 0. 03%.

Shares of Designer Brands (DBI) gained around 2.2% after the company restored its quarterly dividend to $0.05 per share and raised its earnings outlook for fiscal year 2022 to $1.80 from 1, $90 per share, down from $1.75 to $1.85 per share. Analysts polled by Capital IQ expect normalized EPS of $1.82.

Shares of Sunlands Technology Group (STG) edged higher after posting a fourth-quarter profit from a net loss a year earlier, despite new student enrollment falling 22.7% year-on-year ‘other.

Keurig Dr Pepper (KDP) on Thursday priced a public offering of $1 billion 3.95% senior notes due 2029, $850 million 4.05% senior notes due 2032 and $1.15 billion of 4.50% senior notes due 2052, for estimated net proceeds of approximately $2.96 billion. Shares of the beverage company were slightly lower in premarket activity.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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