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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
Sep 17, 2024 1:27 PM

03:55 PM EDT, 09/17/2024 (MT Newswires) -- Consumer stocks were mixed late Tuesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) shedding 1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) rising 0.4%.

Redbook US same-store sales rose by 4.6% from a year earlier in the week ended Sept. 14, slower than a 6.5% year-over-year increase in the previous week.

In corporate news, BurgerFi International ( BFI ) shares surged 70% after the company said late Monday that it received interim court approval to access $3.5 million of the debtor-in-possession financing from an affiliate of TREW Capital Management.

Acushnet (GOLF) shares were falling 3.6% after Jefferies downgraded the stock to hold from buy.

Walmart ( WMT ) is increasing pay for employees working for its Sam's Club membership club division by between 3% and 6%, depending on how long they've worked for the company, the retailer said. Walmart ( WMT ) shares retreated 2.4%.

Ferguson's (FERG) fiscal Q4 adjusted earnings came in ahead of market estimates while revenue missed expectations as residential end markets in the US "remained muted." Its shares rose 4.6%.

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