Sector Update: Consumer Stocks Higher in Late Afternoon Trading

03:53 PM EDT, 08/16/2024 (MT Newswires) -- Consumer stocks rose late Friday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) adding 0.3%.

In corporate news, Amcor (AMCR) shares fell 4.1% after the company posted fiscal Q4 net sales that dropped more than expected by analysts.

Walmart (WMT) and its partner DroneUp are ending drone deliveries in three states to focus on perfecting the service in the Dallas-Fort Worth area, Axios reported. Walmart shares were 0.2% higher.

Madison Square Garden Entertainment (MSGE) shares popped 4.4%. The company said that it swung to a fiscal Q4 profit year on year as higher event-related revenue and food and beverage sales helped drive a double-digit topline gain.

Flowers Foods (FLO) reported higher-than-expected fiscal Q2 earnings while the company's revenue missed analysts' estimates amid volume declines. Its shares were up 0.3%.