Judge blocks Trump subpoena to Comcast, Tesla denies car cancellation, P&G recalls detergent

From Nasdaq: 2024-04-05 15:49:02

Consumer stocks saw gains late Friday, with the XLP increasing by 0.1% and the XLY adding 0.5%. In corporate news, a US judge blocked a subpoena issued by Donald Trump to Comcast’s NBCUniversal over a documentary about Stormy Daniels, causing Comcast shares to drop by 0.3%.

Elon Musk denied reports of Tesla canceling plans for a cheaper car, leading to a 3.4% drop in Tesla shares. Meanwhile, Paramount is set to continue trading publicly under an offer by Skydance Media, potentially acquiring a significant stake. Paramount shares fell by 2.8% following the news.

Procter & Gamble initiated a voluntary recall of 8.2 million defective laundry detergent packets due to safety concerns. The recall affects Tide, Gain, Ace, and Ariel products, which may split open and pose a risk of injury if ingested. Despite the recall, P&G shares rose by 0.4% amid the news.



Read more at Nasdaq: Consumer Sector Update for 04/05/2024: CMCSA, TSLA, PARA, PG