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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
Nov 12, 2024 10:09 PM

03:52 PM EST, 11/12/2024 (MT Newswires) -- Consumer stocks were mixed late Tuesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.3% and the Consumer Discretionary Select Sector SPDR Fund (XLY) falling 1.2%.

Redbook US same-store sales last week rose 4.8% from a year earlier, below the 6% increase in the previous week.

In corporate news, Live Nation (LYV) shares jumped 4.5%, a day after the company reported strong demand in the current quarter and into 2025 for its Ticketmaster sales segment.

TreeHouse Foods ( THS ) shares tumbled past 13%. The company lowered its full-year core profitability outlook on Tuesday as its Q3 results trailed market expectations amid a product recall and volume declines.

Shopify ( SHOP ) shares surged 22% after its Q3 revenue increased more than Wall Street's expectations amid double-digit gross merchandise volume gains.

Tyson Foods ( TSN ) surpassed top- and bottom-line expectations for its fiscal Q4 on Tuesday, while it issued guidance implying a slight cooldown in sales in the new year amid ongoing uncertainties with its beef business. Its shares popped past 6%.

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