Consumer stocks had mixed performance with BBWI issuing a downbeat outlook, while Green Thumb Industries reached out to SAM for a merger, and TSLA shares were down.
From Nasdaq: 2024-06-04 13:43:24
Consumer stocks saw mixed performance on Tuesday, with the XLP increasing by 0.9% and the XLY down slightly. In economic news, Redbook US same-store sales growth slowed to 5.8% from a year ago. Bath & Body Works issued a downbeat fiscal Q2 earnings outlook, leading to a more than 13% drop in shares. Green Thumb Industries CEO reached out to Boston Beer about a potential merger. Elon Musk reportedly diverted Nvidia AI processors meant for Tesla to another company. Tesla shares were down by 0.6%.
Read more at Nasdaq: Consumer Sector Update for 06/04/2024: BBWI, SAM, TSLA