Sector Update: Consumer Stocks Mixed Late Afternoon

MT Newswires Live10-27 03:53

Consumer stocks were mixed late Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 1.1%.

In corporate news, Netflix (NFLX) customers are opening the app less compared with a couple of years ago and spending less time watching, Bloomberg reported. The share of US subscribers who did not open the app climbed 16.6% in Q3 from a year ago, the report said, citing Apptopia data. Netflix shares were down 3.3%.

Skydance (SKYD) is offering voluntary buyouts to its staff, Washington Post Reporter Scott Nover posted Monday on X, citing an internal email from Co-Chief Executives David Ellison and Ynon Kreiz. Its shares fell 4.6%.

JetBlue Airways (JBLU) shares fell 10% amid growing scrutiny over how the US airline plans to shore up its finances, Bloomberg reported. If fuel prices remain high, JetBlue may need to shift from cash-burning to regularly generating cash, Bloomberg Intelligence Analyst George Ferguson was cited as saying.

Verizon Communications (VZ) raised its full-year earnings outlook on Monday after reporting an 820% year-over-year surge in Q3 postpaid phone net additions, while the company announced an AI infrastructure deal worth more than $2 billion with Amazon's (AMZN) cloud computing unit. Verizon shares were down 3.5%.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment