© Reuters.
In a day of mixed performance for consumer stocks on Friday, the S&P Consumer Staples Select Sector SPDR Fund (NYSEARCA:XLP) retreated 0.9% while the Consumer Discretionary Select Sector SPDR Fund (NYSEARCA:XLY) advanced 0.5%.
ELF Beauty Inc.’s (NYSE:ELF) shares surged 4.4% following an upgrade by Jefferies and a price target revision to $115 from $100. This marked a significant positive shift for the cosmetics company.
On the same day, MGM Resorts International (NYSE:) revealed a cyber breach that compromised client data. The breach is expected to result in a $100 million hit to the company. Despite this setback, MGM’s shares rose 6%, propelled by optimism tied to forthcoming Q4 Formula 1 events.
In contrast, Levi Strauss & Co . (NYSE:NYSE:) experienced a 2.5% stock drop in response to reported fiscal Q3 earnings and revenue decline. The denim retailer’s disappointing financial results have seemingly impacted investor confidence, leading to a dip in its share price.
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