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Sector Update: Consumer Stocks Slip Pre-Bell Wednesday

01/27/2021 | 09:16am
(MT Newswires) -- Consumer stocks were slipping in Wednesday's pre-bell trading. Shares of the consumer staples S&P 500 (XLP) ETF and the consumer discretionary (XLY) ETF were declining by more than 1% in recent trading.

VF (VFC) was shedding nearly 6% after posting Q3 earnings of $0.88 per diluted share, down from $1.16 a year ago. That fell below the consensus of analysts polled by Capital IQ of $0.93. On an adjusted basis, Q3 earnings were $0.93 per share, above the Street view of $0.90.

Dada Group (DADA) was down more than 4% after saying it is working with chocolate company Ferrero to create an on-demand retail model for snack food in China. The financial terms of the agreement were not disclosed.

Silgan Holdings (SLGN) was up almost 4%. The company late Tuesday reported Q4 adjusted EPS of $0.60, up from $0.38 a year ago. The result beat the $0.53 consensus estimate of analysts polled by Capital IQ.

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