Sector Update: Consumer Discretionary Stocks Climbing While Consumer Staples Stocks Decline
01:18 PM EDT, 05/07/2021 (MT Newswires) -- Consumer stocks were broadly mixed in Friday trading, with the SPDR Consumer Staples Select Sector ETF dropping 0.3% while the SPDR Consumer Discretionary Select Sector ETF was rising 0.8%.
In company news, Tilray (TLRY) rose about 18% after Jefferies resumed coverage of the Canadian cannabis company with a buy rating and a $23 price target.
Roku (ROKU) climbed over 11% after reporting a surprise Q1 profit as revenue grew 79% over year-ago levels, topping also analyst estimates. The streaming television platform company also is projecting another profit for the current Q2 with revenue again exceeding the Capital IQ consensus.
Coursera (COUR) declined 6.5% after the online educator said lock-up restrictions for a portion of the shares owned by Courera executives and board members as well as the underwriters for its March 31 initial public offering will expire Tuesday, May 11.