Consumer stocks, including Constellation Brands and Macy's, surge with positive developments

From Nasdaq: 2024-07-05 16:00:50

Consumer stocks saw gains Friday afternoon, with XLP up 1% and XLY up 0.7%. Constellation Brands’ stock surged 3.3% after UBS and JPMorgan raised price targets post-fiscal Q1 results.

Texas Roadhouse poised for growth despite challenges, UBS says, leading to a 2.5% stock increase. Macy’s receives a $6.9 billion buyout offer, sending shares soaring nearly 10%.

Saks Fifth Avenue’s parent company to acquire Neiman Marcus in a $2.65 billion deal, with investments from Amazon and Salesforce. Amazon rose by 1.2%, and Salesforce increased by 0.9% in response to the news.



Read more at Nasdaq: Sector Update: Consumer Stocks Gain Late Afternoon