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Consumer Sector Update for 05/06/2020: CARS, GM, BG, XLY, XLP

Consumer firms were flat to higher premarket Wednesday. Consumer discretionary firms (XLY) were inactive, while shares of staples companies in the S&P 500 (XLP) were 0.10% higher recently.

Cars.com (CARS) was advancing more than 18% after it reported Q1 adjusted net income per diluted share of $0.32, compared with $0.31 during the year-ago quarter. Analysts polled by Capital IQ had expected adjusted net income of $0.13 per share.

General Motors (GM) was rallying past 7% even as it reported Q1 adjusted earnings of $0.62 per diluted share, down from $1.41 a year ago. Analysts polled by Capital IQ expected $0.34.

Bunge (BG) was declining by more than 6% after it reported Q1 adjusted loss of $1.34 per share, compared with a profit of $0.36 per share a year ago, missing the Capital IQ analyst forecast for a profit of $0.67. Bunge said it expects its full-year EPS to be lower than its initial estimate given the “current market environment and forward curves.”

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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