01:56 PM EST, 11/07/2024 (MT Newswires) -- Consumer stocks rose Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.5% and the Consumer Discretionary Select Sector SPDR Fund (XLY) advancing 1.3%.

In corporate news, Warner Bros. Discovery ( WBD ) shares jumped past 10%. The company reported the strongest quarterly gain in subscribers for its Max streaming platform in the September period alongside surprise net income, even as revenue declined from a year earlier, dented by a weaker box office.

Under Armour ( UAA ) shares soared 28% and 32% respectively after the company's fiscal Q2 results came in ahead of analysts' estimates.

Lyft ( LYFT ) shares surged 23% after the firm posted better-than-expected Q3 results, while its gross bookings outlook for the ongoing three-month period indicated a sequential increase.