Consumer stocks rise, Tesla surges, Stellantis seeks new CEO, GM lays off workers.

From Nasdaq: 2024-09-23 15:51:33

Consumer stocks saw gains with the XLP rising 0.5% and XLY up by 1.1%. Tesla shares surged 4.9% after an increase in delivery estimates for Q3.

Stellantis Chairman is seeking a successor for CEO Carlos Tavares, with STLA shares increasing by 2.8%. General Motors plans to lay off 1,695 workers in Kansas, causing GM shares to drop 1.8%.

Kaival Brands Innovations soared 131% after signing a merger agreement with Delta Corp Holdings. Both companies will become subsidiaries of a new holding firm in the Cayman Islands.



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