Sector Update: Consumer Stocks Mixed in Afternoon Trading

MT Newswires Live03-14 01:51

Consumer stocks were mixed Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.9% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.3%.

In sector news, US consumer sentiment fell this month amid worries that higher energy prices could threaten personal finances as the war in the Middle East continued, a University of Michigan survey showed Friday. The headline sentiment index fell to 55.5 from 56.6 in February, according to preliminary results of the survey. The consensus was for the index to fall to 54.8 in a Bloomberg-compiled survey.

In corporate news, Ulta Beauty (ULTA) shares slumped 12% after the beauty retailer issued a full-year earnings outlook below market estimates, while it reported a lower-than-expected bottom line in fiscal Q4.

Kroger (KR) shares rose 0.9% after it said Friday that the Zepbound KwikPen, a newly launched multi-dose delivery option for Eli Lilly's (LLY) GLP-1 weight-management drug, is now available at participating Kroger pharmacies.

Starbucks' (SBUX) union, Starbucks Workers United, said it has made a new contract offer to the coffee chain and is working to revive talks with the company, Bloomberg reported, citing the union. Starbucks shares were down 0.3%.

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