BUZZ - Tobacco and alcohol stocks lead gains in the consumer staples sector

路透社2026/10/08 17:06

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On October 8, Thursday, Philip Morris International (PM.N) became the top gainer in the S&P 500 Consumer Staples sector (.SPLRCS), followed by alcoholic beverage company Constellation Brands (STZ.N) and Altria Group (MO.N), both ranking among the day's biggest gainers. Shares of Philip Morris International (PM), a supplier of cigarettes and smoke-free nicotine products, rose about 4% to $200.89, set for a fourth consecutive session of gains and marking the largest single-day increase since July 16. Marlboro cigarette maker Altria gained 2.9% to $71.36. Earlier, British peer Imperial Brands (IMB.L) said it expects to meet its full-year guidance and announced a £1.5 billions ($1.98 billions) share buyback plan, as robust growth in tobacco alternatives helped offset declining cigarette sales. STZ, which produces beer, wine, and spirits, rose over 3% to $122.35 on the second trading day after releasing its quarterly report, despite several brokerages lowering their price targets. JPMorgan, however, raised its target from $133 to $136. Cetera Chief Investment Officer Gene Goldman noted on Thursday that there is “a rotation from growth stocks to defensive stocks” in the market, adding that “rising yields and wider credit spreads are putting pressure on AI and growth stocks.” He also pointed out that valuations in the sector are improving. Over the past three months, the sector has underperformed the broader S&P 500, falling 1% versus the benchmark’s 3.9% rise. Among the five S&P sectors that did not decline on Thursday, the Consumer Staples Index posted the second-largest gain, up 1.6%.

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October 8 - ** On Thursday, Philip Morris International (PM.N) became the top gainer in the S&P 500 Consumer Staples sector (.SPLRCS), followed by alcoholic beverage company Constellation Brands (STZ.N) and Altria Group (MO.N), both of which were also among the day’s biggest gainers.

** Shares of tobacco and smoke-free nicotine product supplier Philip Morris International (PM) rose about 4% to $200.89, poised for a fourth consecutive session of gains and marking the largest single-day gain since July 16. Altria, the Marlboro cigarette manufacturer, saw its share price increase by 2.9% to $71.36.

** Earlier, British peer Imperial Brands (link) IMB.L stated it is on track to meet its full-year guidance and has launched a £1.5 billion ($1.98 billion) share buyback plan, as robust growth in tobacco alternatives helped offset a decline in cigarette sales.

** STZ, which produces beer, wine, and spirits, saw its stock climb more than 3% to $122.35 on the second trading day after its quarterly report, despite several brokerages cutting their target price (link) (link). JPMorgan (link), however, bucked the trend and raised its target price from $133 to $136.

** Cetera Chief Investment Officer Gene Goldman noted Thursday that the market is experiencing “a rotation from growth to defensive stocks,” while also mentioning that “rising yields and widening credit spreads are putting pressure on AI and growth stocks.”

** The Chief Investment Officer also pointed out that valuations in this sector are improving. Over the past three months, the sector has underperformed the broader S&P 500, falling by 1%, while the benchmark index rose by 3.9%.

** Among the five S&P sectors that did not decline on Thursday, the Consumer Staples index finished second, up 1.6%.

(To facilitate non-native English speakers, Reuters has automated the translation of its reports into several other languages. Since automated translation may contain errors or lack required context, Reuters does not guarantee the accuracy of the automated translated text and provides it solely for reader convenience. Reuters assumes no responsibility for any damage or loss caused by the use of the automated translation function.)

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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On October 8, Revolution Medicines (RVMD.O) shares fell 8.1% in afternoon trading to $185.91. RBC Capital Markets stated that the share price decline appeared to be driven by the latest U.S. Food and Drug Administration (FDA) review documents regarding the company's pancreatic cancer drug Rasonque, particularly the disclosure of objective response rate data for specific RAS mutation subgroups. RBC pointed out that overall survival, rather than objective response rate, is a more meaningful indicator of efficacy, and that the sell-off overlooked Rasonque's broad activity across a variety of RAS mutation subgroups. RBC stated: "While we acknowledge that today's share price decline takes place against the backdrop of overall weakness in the biotech sector, we still believe that the market's reaction to the FDA review documents is an overreaction, given that the drug was approved on the basis of highly clinically meaningful efficacy and has received positive feedback from physicians." Including intraday fluctuations, the stock has more than doubled year-to-date. (Note: For the convenience of non-English speakers, Reuters has automatically translated its reports into several other languages. Automated translations may be inaccurate or lack necessary context; Reuters does not guarantee the accuracy of these automated translations and provides them only for reader convenience. Reuters does not accept liability for any damage or loss arising from the use of automated translation features.)

路透社•2026/10/08 18:26