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Sector Update: Consumer Stocks Decline in Late Afternoon Trading
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Sector Update: Consumer Stocks Decline in Late Afternoon Trading
Oct 29, 2024 1:14 PM

03:56 PM EDT, 10/29/2024 (MT Newswires) -- Consumer stocks fell in late Tuesday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) shedding 0.7% and the Consumer Discretionary Select Sector SPDR Fund (XLY) down 0.4%.

Redbook US same-store sales last week rose 5.6% from a year earlier after a 4.6% gain in the previous week.

In corporate news, JetBlue Airways ( JBLU ) shares tumbled 17% after the company on T forecast declines in Q4 and full-year revenue.

D.R. Horton ( DHI ) shares slumped 7.7%. The homebuilder logged lower-than-expected fiscal Q4 result and issued downbeat revenue outlooks for Q1 and 2025.

Ford Motor ( F ) shares dropped 8.5% after the carmaker lowered its 2024 adjusted EBIT outlook.

Crocs ( CROX ) shares (CROX) fell 19% after the company tempered its 2024 revenue guidance due to weakness at the Heydude brand.

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