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Sector Update: Consumer Stocks Mixed Late Afternoon
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Sector Update: Consumer Stocks Mixed Late Afternoon
Nov 3, 2024 11:18 PM

03:41 PM EDT, 10/31/2024 (MT Newswires) -- Consumer stocks were mixed late Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) up less than 0.1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) falling 1.4%.

In corporate news, Estee Lauder ( EL ) shares tumbled past 21%. The company withdrew fiscal 2025 guidance and slashed the dividend after Q1 sales fell more than expected amid headwinds in China and Asia travel retail.

Comcast ( CMCSA ) said Thursday it's considering a potential spin-off of its cable brands to better navigate cord-cutting trends, while the company reported higher-than-expected results for Q3. Its shares popped 3.2%.

PLBY ( PLBY ) shares surged 47% after the company reported a strategic partnership with Byborg Enterprises, a privately held online entertainment company.

Uber's ( UBER ) Q3 gross bookings trailed Wall Street estimates, while earnings and revenue rose more than forecast. Its shares sank past 9%.

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