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Sector Update: Consumer Stocks Mixed in Late Afternoon Trading
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Sector Update: Consumer Stocks Mixed in Late Afternoon Trading
Aug 29, 2024 5:18 AM

03:52 PM EDT, 08/27/2024 (MT Newswires) -- Consumer stocks were mixed late Tuesday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) shedding 0.2%.

Redbook US same-store sales last week rose 5% from a year earlier after a 4.9% increase in the previous week.

In corporate news, Trip.com's ( TCOM ) shares jumped 8.6% as the Chinese travel operator posted higher-than-expected Q2 earnings, buoyed by strong demand for local and international travel.

VOXX International ( VOXX ) shares surged 73% after the company said its board is mulling alternatives, including selling itself, a sale of segments, operational enhancements or other deals.

American Woodmark ( AMWD ) shares tumbled 9.8% after fiscal Q1 results dropped from a year earlier, and the cabinet maker lowered full-year guidance amid weakness in the home-remodeling market.

Paramount (PARA) shares dropped 6.8%. The company said late Monday the "go-shop" period under its merger agreement with Skydance Media ended following the withdrawal of a rival bid from a group of investors led by Edgar Bronfman Jr.

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