Sector Update: Consumer Stocks Higher in Monday Afternoon Trading

MT Newswires Live04-14

Consumer stocks were advancing Monday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) rising 1.7% and the Consumer Discretionary Select Sector SPDR Fund (XLY) up 0.1%.

In corporate news, Mattel (MAT) and TKO (TKO) unit WWE said Monday they have agreed to a multiyear extension of their global licensing deal under which Mattel makes WWE action figures and accessories. Mattel shares added 1% and TKO climbed 3.1%.

Netflix (NFLX) is testing a new AI search technology that aims to refine how users explore its catalog, Bloomberg reported Saturday. Its shares rose 1.4%.

Children's Place (PLCE) shares dropped nearly 14%. The company reported late Friday a fiscal Q4 adjusted net loss of $0.75 per diluted share, narrowing from a $7.37 loss a year earlier. Two analysts polled by FactSet, on average, expected adjusted net income of $0.26. Net sales for the quarter were $408.6 million, down from $455 million a year earlier.

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