Consumer stocks were rising Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) and the Consumer Discretionary Select Sector SPDR Fund (XLY) each adding 0.3%.
In corporate news, Ralph Lauren (RL) shares surged past 11% after the company reported fiscal Q3 adjusted earnings and sales that beat market expectations.
Philip Morris International (PM) issued an upbeat full-year earnings outlook on Thursday as the tobacco company reported Q4 results above market expectations amid robust demand for its smoke-free products and ZYN nicotine pouches. Its shares jumped past 10%.
Ford (F) shares fell past 6% as the automaker projected lower profitability in 2025 on a year-over-year basis amid market headwinds despite reporting Q4 results above Wall Street's estimates.
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