Consumer Sector Update for 04/24/2024: TSLA, HAS, HELE

Consumer stocks were rising Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.6% and the Consumer Discretionary Select Sector SPDR Fund (XLY) adding 1%.

In corporate news, Tesla's (TSLA) shares climbed 11.5% after the company disclosed plans to launch new models earlier than expected, softening the blow from its weaker-than-anticipated Q1 financial results.

Hasbro (HAS) shares rose more than 11% after the company reported stronger-than-expected Q1 results while affirming its full-year outlook.

Helen of Troy (HELE) reported fiscal Q4 adjusted earnings Wednesday of $2.45 per diluted share, up from $2.01 a year earlier. Analysts polled by Capital IQ expected $2.30. The company expects fiscal 2025 adjusted EPS of $8.70 to $9.20 and revenue between $1.97 billion and $2.03 billion. Analysts expect $9.72 per share and $2.04 billion. Its shares tumbled 10% in recent trading.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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