Consumer staples stocks carried the bulk of Wall Street again on Thursday, Oct. 5, extending a trend that has characterized trading so far this week.
Net income rose to $2.48 a share from $1.75 a year earlier. Adjusted earnings of $2.47 a share came in higher than an estimated $2.17 a share. Net sales increased 3% to $2.08 billion and edged past consensus by $20 million.
Strong beer sales offset weaker wine and spirits sales. Beer shipment volume climbed by 11.7%, while wine and spirits volume declined 19.2%.
Shares gained more than 4%, putting the stock on track for its best performance since June 29. The stock has climbed just over 37% so far this year.
Other consumer stocks on the rise included PepsiCo Inc. (PEP) - Get Report , AmerisourceBergen Corp. (ABC) - Get Report and Dr. Pepper Snapple Group Inc. (DPS) . The Consumer Staples Select Sector SPDR ETF (XLP) - Get Report gained 0.6%.
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