03:39 PM EDT, 09/26/2024 (MT Newswires) -- Consumer stocks were advancing late Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) up 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) adding 0.4%.

In corporate news, TKO (TKO) said in a filing Thursday it reached a new $375 million settlement on claims asserted in class action lawsuit filed by former UFC fighters. TKO shares rose 1.3%.

Southwest Airlines ( LUV ) shares jumped 5.6% after the company increased its Q3 guidance for a key revenue metric on Thursday while pledging to unlock $500 million in run-rate cost savings in 2027 through reduced hiring and other efficiency measures. Southwest ( LUV ) also unveiled new offerings that it hopes will better align with customer preferences, including assigned seating and seats with extra legroom.

CarMax ( KMX ) on Thursday reported mixed fiscal Q2 results, with earnings falling short of Wall Street's estimates and revenue topping expectations. Its shares popped 4%.

Cintas ( CTAS ) shares were marginally higher. The company raised its full-year guidance on Wednesday as it reported stronger-than-expected fiscal Q1 results.