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Sector Update: Consumer Stocks Mixed in Thursday Afternoon Trading
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Sector Update: Consumer Stocks Mixed in Thursday Afternoon Trading
Sep 1, 2024 4:44 AM

01:56 PM EDT, 08/29/2024 (MT Newswires) -- Consumer stocks were mixed Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) decreasing 0.3% and the Consumer Discretionary Select Sector SPDR Fund (XLY) rising 1.1%.

In corporate news, Best Buy ( BBY ) shares jumped nearly 16% in recent trading. The company lifted its full-year earnings outlook following better-than-expected fiscal Q2 results.

Dollar General ( DG ) shares tumbled almost 30%. The company lowered its full-year outlook on Thursday amid softening sales trends, as the discount retailer's fiscal Q2 results missed analysts' estimates.

Big Lots ( BIG ) is looking at a potential bankruptcy filing and also seeking investors to avoid Chapter 11, Bloomberg reported Wednesday. Its shares plunged 37%.

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