Consumer stocks were mixed Friday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.7% and the Consumer Discretionary Select Sector SPDR Fund (XLY) down 0.5%.
In corporate news, Costco (COST) reported fiscal Q2 net income late Thursday of $4.02 per diluted share, up from $3.92 a year earlier but below the FactSet consensus estimate of $4.11. Its shares dropped 6.8%.
Wendy's (WEN) growth guidance through 2028 appears to be "unnecessarily aggressive" given the fast food chain's currently depressed valuation, Wedbush said in a note Friday. Wendy's shares were rising nearly 2%.
MercadoLibre (MELI) plans to invest $3.4 billion in Mexico in 2025, up 38% from 2024, Reuters reported, citing a company executive. Its shares were falling 3.8%.
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