Consumer stocks were trending higher late in Friday trading, with the SPDR Consumer Staples Select Sector ETF (XLP) gaining 0.5%, reversing its morning slide, while the SPDR Consumer Discretionary Select Sector ETF (XLY) was rising 0.8%.
In company news, Mondelez International (MDLZ) fell 2.2% after the packaged foods company reported non-GAAP Q4 net income of $0.71 per share, improving on a $0.66 per share during the same quarter in 2020 but still missing the Capital IQ consensus expecting it to earn $0.73 per share, excluding one-time items.
VF (VFC) tumbled 7% after the branded apparel company cut its FY22 revenue outlook, now expecting around $11.85 billion in sales for the 12 months through December, down from its prior forecast looking for $12 billion in sales this year. The Street is at $11.95 billion, according to Capital IQ.
To the upside, Columbia Sportswear (COLM) rose 2.4% after Seaport Global Friday raised its investment call for the company to buy from neutral and set a $120 price target.
Olaplex (OLPX) climbed 1.4% after Arcaea said Olaplex made an unspecified investment in the cosmetics startup late last year as part of a new partnership working to develop new haircare products.
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