From Nasdaq: 2024-05-31 15:44:47

Consumer stocks had mixed performance on Friday, with XLP rising by 0.7% and XLY dropping by 0.3%. Boston Beer shares skyrocketed by 21% following reports of potential acquisition by Suntory. Tesla CEO Elon Musk facing a lawsuit for allegedly selling $7.53 billion worth of stock with insider information, causing Tesla shares to decline by 1.5%.

Billionaire investor Carl Icahn revealed a significant stake in Caesars Entertainment, causing shares to surge over 11%. Gap saw a 27% increase in shares after reporting Q1 earnings that surpassed analyst expectations. The market remains dynamic amid corporate developments and legal challenges in key industries.



Read more at Nasdaq: Consumer Sector Update for 05/31/2024: SAM, TSLA, CZR, GPS