Consumer staples exchange traded funds (ETFs) could get a boost Tuesday from Herbalife (NYSE: HLF), which reported better-than-expected earnings and boosted its full-year outlook.
The company “continued to provide strong growth to both the top and bottom line growth in the first quarter,” said Michael O. Johnson, Herbalife’s chairman and CEO, in the earnings release. Net sales rose 28.5% from the year-earlier quarter.
“Momentum continues to be broad-based across reporting regions, with emerging and established markets still each growing volumes in the double digits,” said Jefferies analysts.
Herbalife said shareholders approved a 2-for-1 stock split. The record date for the split will be May 10, the company said.
Herbalife is the largest holding in First Trust Consumer Staples AlphaDEX Fund (NYSEArca: FXG) at 5% of assets.
First Trust Consumer Staples AlphaDEX Fund
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