Consumer Sector Update for 12/08/2023: PARA, CURV, LULU, DPZ

Consumer stocks were mixed late Friday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) falling 0.7% and the Consumer Discretionary Select Sector SPDR Fund (XLY) adding 0.5%.

In corporate news, Paramount Global (PARA) shares climbed past 12% after Deadline reported late Thursday that Skydance Media Chief Executive David Ellison and RedBird Capital were looking to take control of Paramount via National Amusements.

Torrid (CURV) shares jumped 19% after the company's fiscal 2023 net sales forecast topped market expectations and analysts raised the stock's price target.

Lululemon Athletica (LULU) shares gained 5.8% after the company raised its fiscal 2024 sales forecast.

Domino's Pizza (DPZ) plans to open 900 additional stores in the US to bring the total to at least 7,700 by 2028 with a longer-term target of 8,500, Joseph Hugh Jordan, the company's president of US and global services, said Thursday on a conference call with analysts. Domino's was shedding 1.3%.

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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