01:44 PM EDT, 10/24/2024 (MT Newswires) -- Consumer stocks were mixed Thursday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) shedding 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) jumping 3.1%.

In corporate news, Tesla (TSLA) shares surged 20%, a day after the company posted a surprise gain in Q3 earnings and issued a bullish outlook on 2025 volume growth.

Hasbro ( HAS ) shares dropped 5.6% after the toymaker reported a sharper-than-expected decline in Q3 revenue and lowered full-year sales expectations for the largest operating segment.

TKO (TKO), the parent of UFC and WWE, agreed to buy three sports assets from Endeavor (EDR) for $3.25 billion in stock TKO also announced a $2 billion share repurchase program and started a quarterly cash dividend. TKO shares tumbled 7.4%, and Endeavor fell 1.1%.