Consumer stocks were mixed late Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) up 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) falling 1.1%.
In corporate news, J.M. Smucker (SJM) reported a bigger-than-expected decline in fiscal Q3 sales due largely to a supply chain disruption, though earnings unexpectedly rose year-over-year. Its shares added 0.2%.
General Motors (GM) is preparing to sell bonds in the high-grade primary market, Bloomberg reported. GM shares fell 1.6%.
Warner Bros. Discovery's (WBD) Q4 loss widened unexpectedly as sales declined more than market estimates, but it saw gains in subscribers on annual and sequential bases and projected continuous growth for the metric. Its shares popped 5.9%.
Bath & Body Works (BBWI) shares dropped past 12%. The company reported a year-on-year drop in fiscal Q4 sales, while it set expectations for a likely earnings decline this year.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.