01:36 PM EST, 03/08/2024 (MT Newswires) -- Consumer stocks were decreasing Friday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) shedding 0.7% and the Consumer Discretionary Select Sector SPDR Fund (XLY) down 0.5%.

In corporate news, Costco Wholesale ( COST ) shares tumbled more than 7% after reporting fiscal Q2 net sales that trailed analyst estimates.

Clarus (CLAR) shares jumped 23% after the company said its board has approved requests from Greenhouse Funds and Executive Chairman Warren Kanders along with affiliates to increase their beneficial ownership.

Carvana ( CVNA ) spiked over 5% after RBC upgraded the stock to sector perform from underperform and raised its price target to $90 from $45.