Consumer stocks decline, BRF surges on upgrades, TSLA drops on workforce reduction reports

From Nasdaq: 2024-04-15 15:50:41

Consumer stocks saw a decline late Monday afternoon, with the XLP dropping 0.4% and the XLY falling 1.6%. Meanwhile, BRF shares surged 8.9% after upgrades by Goldman Sachs and JPMorgan.

Tesla shares plummeted 5.1% following reports of a planned workforce reduction of “more than 10%” and the resignation of Senior Vice President Drew Baglino.

Tapestry received approvals from the European Commission and Japan’s Fair Trade Commission for its acquisition of Capri, leading to a 1.1% drop in Tapestry shares and a 0.4% decline in Capri.

Albertsons is anticipated to report mixed fiscal Q4 results, with RBC Capital Markets predicting higher store sales but lower adjusted earnings, causing a 0.4% decrease in Albertsons shares.



Read more at Nasdaq: Consumer Sector Update for 04/15/2024: BRFS, TSLA, TPR, CPRI, ACI