Sector Update: Consumer Stocks Mixed Late Afternoon

MT Newswires Live12-07

Consumer stocks were mixed late Friday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.4% and the Consumer Discretionary Select Sector SPDR Fund (XLY) rising 1.8%.

In corporate news, Peloton (PTON) shares popped 3.2% after UBS upgraded its rating on the stock to neutral from sell and raised its price target to $10 from $2.50.

GameStop (GME) shares are trading at "a level that ignores the company's many challenges ahead," Wedbush said Friday in a note to clients. Wedbush reiterated its underperform rating on GameStop and a price target of $10. GameStop shares added 0.6%.

Lululemon Athletica's (LULU) shares jumped 17% after the company reported late Thursday higher fiscal Q3 earnings and revenue and raised its guidance for fiscal 2024.

Ulta Beauty (ULTA) shares gained more than 9% in recent Friday trading, a day after the company reported higher fiscal Q3 earnings per share and net sales while raising its full-year EPS guidance.

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