01:48 PM EDT, 07/26/2024 (MT Newswires) -- Consumer stocks were rising Friday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 1.1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) up about 1%.

In corporate news, Mohawk Industries ( MHK ) shares surged 19% after BofA Securities upgraded the company to buy from underperform, while raising its price target to $177 from $120. Mohawk reported Thursday a surprise increase in Q2 earnings, and Q3 guidance topped estimates by analysts.

Fortune Brands (FBIN) shares popped 9% after the firm reported late Thursday better-than-expected Q2 non-GAAP earnings.

Everi ( EVRI ) and International Game Technology ( IGT ) have signed deals for IGT's gaming and digital business and Everi ( EVRI ) to be bought by funds managed by Apollo Global Management ( APO ) for $6.3 billion. Everi ( EVRI ) shares soared 42%, International Game Technology ( IGT ) jumped 16% and Apollo added 0.4%.