03:45 PM EST, 03/08/2024 (MT Newswires) -- Consumer stocks were declining late Friday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) shedding 0.7% and the Consumer Discretionary Select Sector SPDR Fund (XLY) down 0.3%.

In corporate news, Smith & Wesson Brands ( SWBI ) shares surged almost 30%, a day after the company reported quarterly results that topped estimates by analysts.

Costco Wholesale ( COST ) shares tumbled more than 7% after reporting fiscal Q2 net sales that trailed analyst estimates.

Clarus (CLAR) shares jumped 22% after the company said its board approved requests from Greenhouse Funds and Executive Chairman Warren Kanders, along with affiliates to increase their beneficial ownership.

Carvana ( CVNA ) spiked over 7% after RBC upgraded the stock to sector perform from underperform and raised its price target to $90 from $45.