04:00 PM EDT, 07/05/2024 (MT Newswires) -- Consumer stocks were higher late Friday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) adding 1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) up 0.7%.

In corporate news, Constellation Brands ( STZ ) shares spiked 3.3% after UBS and JPMorgan raised their price targets on the stock following its fiscal Q1 results earlier this week.

Texas Roadhouse ( TXRH ) remains poised for "sustainable" growth and gains in market share despite macro hurdles and beef cost inflation, UBS Securities said in a report. Texas Roadhouse ( TXRH ) shares popped 2.5%.

Macy's (M) is the target of a $6.9 billion buyout attempt by investors who previously failed to acquire the retailer, The Wall Street Journal reported late Wednesday. Macy's shares surged almost 10%.

The parent company of Saks Fifth Avenue will buy Neiman Marcus in a $2.65 billion deal, while Amazon.com ( AMZN ) and Salesforce ( CRM ) will invest in a new operation formed by the combination, the luxury retailers said. Amazon ( AMZN ) added 1.2%, and Salesforce ( CRM ) was up 0.9%.