01:52 PM EDT, 06/14/2024 (MT Newswires) -- Consumer stocks were lower Friday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) retreating 0.1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) down 0.9%.

In corporate news, Tesla (TSLA) investor Vanguard said it voted for Chief Executive Elon Musk's $56 billion pay package Thursday, reversing its initial vote in 2018 when the package was first approved by shareholders. Tesla shares were falling about 1.9%.

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 Friday. The investment firm cut its price target on RH to $250 from $320, while keeping the neutral rating. RH shares tumbled 18%.

Hasbro's ( HAS ) digital gaming success with Monopoly Go! has not been fully accounted for in consensus forecasts for the company, BofA said in a Friday note. BofA upgraded Hasbro ( HAS ) to buy from neutral and increased its price target to $80 from $70. Hasbro ( HAS ) shares were rising more than 5% in recent trading.