Consumer Stocks Gaining Ground

Consumer stocks were ending broadly higher, with shares of consumer staples companies in the S&P 500 climbing nearly 0.3% this afternoon while shares of consumer discretionary firms in the S&P 500 were rising over 0.7%.

Among consumer stocks moving on news:

(+) Wynn Resorts (WYNN) rose more than 6% on Monday after casino gross gaming revenue in Macau grew 5.9% year-over-year during July, according to the Gaming Inspection and Coordination Bureau. The increase marked the second consecutive monthly rise for the Macau market and the third time during 2019 casino revenue topped year-ago levels.

In other sector news:

(+) Tata Motors (TTM) climbed over 3% after the Sunday Times reported its Jaguar Land Rover unit is planning to spend hundreds of millions of pounds to build an all-electric version of its XJ luxury sedan at its Castle Bromwich factory in Birmingham, UK.

(-) JMU (JMU) was falling nearly 5% Monday afternoon, giving back a small morning gain. The Chinese e-commerce platform narrowed its FY18 net loss compared with the prior year period, recording a $9 million adjusted net loss during the 12 months ended Dec. 31 following a $12.3 million non-GAAP loss in FY17. Revenue declined 58.9% year-over-year to $36.5 million.

(-) Coty (COTY) plunged more than 14% after Monday unveiling a turnaround program, including plans to spend $600 million through the end of FY23 after recording $3 billion in impairment charges during FY19. The cosmetics company also is expecting a “moderating” decline in its FY20 net revenue.

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