03:51 PM EDT, 06/14/2024 (MT Newswires) -- Consumer stocks fell late Friday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) dropping 0.9%.

In corporate news, Home Depot ( HD ) is planning to fund the acquisition of SRS Distribution via the issue of up to $10 billion in debt, Bloomberg reported. Home Depot ( HD ) shares declined 0.6%.

Coca-Cola (KO) and Starbucks ( SBUX ) submitted applications for re-registration of trademarks in Russia, multiple news outlets reported. Coca-Cola shares eased 0.1%, and Starbucks ( SBUX ) dropped 0.8%.

Shopify ( SHOP ) shares jumped 4.7% after Evercore ISI upgraded the stock to outperform from in line.

RH (RH) will need demand growth to accelerate to about 20% by fiscal Q4 to meet its full-year outlook after results missed market estimates in the preceding three-month period, Wedbush said. The investment firm cut its price target on RH to $250 from $320, while keeping a neutral rating. RH shares tumbled 17%.