Streetbeat News

XLP

Consumer Staples Select Sector SPDR Fund

https://www.ssga.com/us/en/intermediary/etfs/funds/the-consumer-staples-select-sector-spdr-fund-xlp

Industry

Asset Management

In seeking to track the performance of the index, the fund employs a replication strategy. It generally invests substantially all, but at least 95%, of its total assets in the securities comprising the index. The index includes companies that have been identified as Consumer Staples companies by the GICS®. It is non-diversified.

Open

79.73

Mkt cap

17B

Volume

17M

High

80.31

P/E Ratio

27.22

52-wk high

84.53

Low

79.67

Div yield

0.03

52-wk low

68.27

PepsiCo Inc. (NASDAQ:PEP) has partnered with Yara International ASA to reduce crop emissions in Europe by providing advanced crop nutrition programs and decarbonizing the food value chain. The partnership will initially focus on potatoes and expand to other crops, involving approximately 1,000 farms. PepsiCo reported a slight sales growth in Q2 but missed analyst estimates, and its stock has declined by 11% over the past year.

Portfolio Pulse from Shivani Kumaresan

July 16, 2024 | 1:55 pm

Amazon is expected to surpass last year's Prime Day results due to early access deals, with sales projected to increase by 7% to $13 billion. Bank of America maintains a Buy rating for Amazon with a price target of $194.49. Other retailers like Walmart and Target also held sales events in July. ETFs holding Amazon and Walmart shares trended downward.

Portfolio Pulse from Michael Juliano

July 15, 2024 | 4:09 pm

Walmart Inc. (NYSE:WMT) is in discussions to sell its recently closed health clinics to recoup investments. The company shut down all 51 clinics and terminated virtual healthcare services in April due to an unsustainable business model. Walmart is engaging with potential buyers, including Humana Inc. (NYSE:HUM). Additionally, Walmart sold its virtual care subsidiary, MeMD, to Fabric. Walmart's Q1 2025 revenue was $161.51 billion, beating estimates, and its stock has gained over 29% in the last 12 months.

Portfolio Pulse from Shivani Kumaresan

July 03, 2024 | 9:43 am

Wall Street saw a mixed session with major indices slightly lower despite positive inflation data. The PCE price index fell to its lowest level since March 2021, aligning with economists' predictions and reinforcing expectations for potential interest rate cuts. Energy stocks outperformed, likely due to Trump's strong debate performance, while Treasury yields rose. Key movers included Nike, Petco, Baker Hughes, and First Solar.

Portfolio Pulse from Piero Cingari

June 28, 2024 | 5:31 pm

Target Corp. (NYSE:TGT) is lowering the threshold for staff to intervene in thefts from $100 to $50 to combat shoplifting, which has impacted its profit margins. This measure, along with other security enhancements, aims to stabilize losses this year.

Portfolio Pulse from Shivani Kumaresan

June 28, 2024 | 10:58 am

Wall Street saw modest gains on Thursday as traders awaited the Federal Reserve's inflation report. U.S. banks passed the Fed's 2024 stress tests, with regional banks outperforming. The semiconductor sector struggled, while gold and Bitcoin rebounded. Key stock movers included Salesforce, Goldman Sachs, Amazon, and Walgreens Boots Alliance.

Portfolio Pulse from Piero Cingari

June 27, 2024 | 5:33 pm

PepsiCo has waived a clause in its bottling agreement with Britvic, making Britvic a more appealing acquisition target for Carlsberg. This follows Britvic's rejection of a $3.9 billion bid from Carlsberg. The waiver will take effect if Britvic's board recommends and completes an acquisition by Carlsberg. PepsiCo's stock has lost more than 9% in the last 12 months, but shares were trading higher by 1.07% at $169.07 recently.

Portfolio Pulse from Shivani Kumaresan

June 24, 2024 | 3:02 pm

Target and Shopify have announced a partnership to feature Shopify merchants on Target Plus, expanding the digital marketplace with new products and brands. Target will also integrate select Shopify merchants' products into its physical stores. This collaboration aims to enhance the shopping experience and provide a broader array of high-quality options. Target and Shopify stocks are trading higher premarket.

Portfolio Pulse from Shivani Kumaresan

June 24, 2024 | 12:39 pm

Philip Morris International Inc. (NYSE:PM) is trading lower in premarket after its affiliate, Swedish Match North America LLC (SMNA), received a subpoena from the Attorney General of D.C. regarding the sale of flavored nicotine pouches. SMNA has suspended online sales of ZYN products and is conducting a review. The inquiry could lead to substantial financial liabilities. Philip Morris stock has gained over 7% in the last 12 months. Investors can gain exposure via Consumer Staples Select Sector SPDR Fund (NYSE:XLP) and Vanguard Consumer Staples ETF (NYSE:VDC).

Portfolio Pulse from Shivani Kumaresan

June 18, 2024 | 12:37 pm

Walmart Inc (NYSE:WMT) is relaunching its 'No Boundaries' fashion line to attract Gen Z customers, with a focus on modern design and affordability. The collection will launch on July 16th and feature 130 new items, including eco-friendly innovations. Walmart has also partnered with Roblox Corp (NYSE:RBLX) to offer virtual outfits. Walmart stock has gained over 27% in the last 12 months.

Portfolio Pulse from Shivani Kumaresan

June 14, 2024 | 11:50 am

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.