Consumer Sector Update for 6/15/2022: CAR, NTCO, HTZ


VSConsumer stocks were mixed overall mid-week, with the SPDR Consumer Staples Select Sector ETF (XLP) falling 0.4% and the SPDR Consumer Discretionary Select Sector ETF (XLY) rising 1.7%.

In corporate news, Avis Budget Group (CAR) gained 11% after a regulatory filing on Tuesday night showed board chairman Bernardo Hees last week bought a total of 29,400 shares of the company are priced between $167.74 and $169.58 each, with trades on June 10 boosting its indirect earnings. stake – held through its BHJH Master Trust – in the car rental company at 479,876 shares.

Natura & Co (NTCO) rose 8.6% after the cosmetics company announced on Wednesday that Roberto Marques was stepping down as CEO and chairman of the board and would retire by the end of the year. He will be replaced by non-executive director Fabio Barbosa, who is expected to lead Natura towards a “simpler” holding company structure.

Hertz Global Holdings (HTZ) added 7.8% after the car rental company authorized a new $2 billion share buyback program on Wednesday, adding to the remaining $200 million under the its existing share buyback program.

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