NEW YORK (TheStreet) -- Some of the biggest gainers and losers on the S&P 500 Thursday afternoon were consumer goods stocks. Shares were driven or affected by factors including company forecasts, Europe and post sell-off recoveries.
stock was tumbling 4.4% to $22.13 after company executives told analysts at a live webcast that headwinds could impact the company this year. Executives said that global unemployment remains high; the global economy is still challenged, as evidenced by the evolving debt crisis in Europe; uncertainty reigns regarding the strength in consumer spending; and then, of course, there are the rising input and labor costs and currency headwinds.
You know, those little things.
Mattel's key competitor,
, also fell with Mattel; shares were down 3.7% to $40.85.
stock was rising 3.6% to $14.87 after it announced its agreement to sell its 51% stake in the Godrej Sara Lee joint venture, primarily a marketer of insecticides sold throughout India, to Godrej Consumer Products for ¿185 million, or roughly $234 million. The transaction is anticipated to close before the end of Sara Lee's fiscal year on July 3, 2010. The sale is another step in Sara Lee's strategy to focus on its core food and beverage businesses.
Meanwhile, mattress maker
stock was tumbling 3.2% to $3.58, as many investors remained skeptical about the ability of the Euro-zone to fully resolve its debt woes, despite the European Central Bank and International Monetary Fund's $1 trillion European debt rescue plan. Sealy derived about 8.7% of its fiscal 2009 net sales from the company's Europe segment, with the remainder of net sales coming from the Americas segment.
stock was adding 2.2% to $18.09 after a large sell-off that led to a decline of 5.8% the day before; the company had affirmed its full-year and first-quarter non-GAAP guidance during its quarterly earnings release May 11, which had been a let-down for some investors.
-- Reported by Andrea Tse in New York
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