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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
Dec 17, 2024 1:20 PM

03:51 PM EST, 12/17/2024 (MT Newswires) -- Consumer stocks were mixed late Tuesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) easing 0.3% and the Consumer Discretionary Select Sector SPDR Fund (XLY) up 0.4%.

Redbook US same-store sales rose by 4.8% from a year earlier in the week ended Dec. 14, faster than a 4.2% year-over-year increase in the previous week.

In corporate news, RCI Hospitality ( RICK ) shares jumped 10%. The company reported fiscal Q4 non-GAAP earnings late Monday of $1.63 per share, up from $1.11 a year earlier.

The Center for American Rights petitioned the US Federal Communications Commission to challenge Paramount's (PARA) planned $8.4 billion merger with Skydance Media, Reuters reported. Paramount shares fell 1.6%.

The Starbucks ( SBUX ) Workers United union said that 98% of union workers voted to authorize a strike, if necessary, ahead of the final stages of contract negotiations, Bloomberg reported. Starbucks ( SBUX ) shares were shedding 0.7%.

McCormick ( MKC ) is in talks to buy Sauer Brands, the owner of Duke's mayonnaise, from Falfurrias Capital Partners, Bloomberg reported. McCormick ( MKC ) shares added 0.4%.

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