Consumer Sector Update for 05/20/2024: LI, DBGI, NCLH, GIL

Consumer stocks fell late Monday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) and the Consumer Discretionary Select Sector SPDR Fund (XLY) each shedding 0.7%.

In corporate news, Li Auto (LI) shares dropped 12% after the company reported lower adjusted earnings in Q1.

Digital Brands (DBGI) shares slumped 16% following its Q1 results.

Norwegian Cruise Line (NCLH) shares rose 8% after the company lifted its full-year earnings outlook amid robust demand and set financial targets for 2026 as part of a strategy to enhance shareholder returns.

Gildan Activewear (GIL) shareholders were advised by proxy advisory firm Glass Lewis to vote in favor of investor Browning West's board nominees, the activist shareholder said. Gildan shares rose 0.9%.

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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