Sector Update: Consumer Stocks Higher in Late Afternoon Trading
Consumer stocks rose late Friday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.5% and the Consumer Discretionary Select Sector SPDR Fund (XLY) adding 0.6%.
In corporate news, Azul (AZUL) shares surged 29%. The company is close to finalizing a deal with lessors to restructure about $600 million in debt, offering them equity in the company, Reuters reported Friday.
Xenia Hotels & Resorts (XHR) shares rose 3.3% as Wells Fargo upgraded its rating on the company to overweight from equalweight, with a price target of $15.
RH (RH) shares surged jumped 25%. The company recorded better-than-expected fiscal Q2 results amid higher demand that is projected to accelerate through this year and into next.
United Airlines (UAL) shares added 1% after it said Friday it signed a deal with SpaceX to equip its planes with Starlink's Wi-Fi service.
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