Sector Update: Consumer Stocks Getting Late Boost
03:52 PM EDT, 05/07/2021 (MT Newswires) -- Consumer stocks were broadly higher late in Friday trading, with the SPDR Consumer Staples Select Sector ETF rising about 0.1%, reversing a narrow midday slide, while the SPDR Consumer Discretionary Select Sector ETF was ahead 0.9%.
In company news, Qurate Retail (QRTEA) was nearly 16% higher after the e-commerce company reported non-GAAP net income of $0.48 per share, up from $0.27 per share a year ago, and beating the Capital IQ consensus by $0.20 per share. Qurate also said it spent $61 million between Feb. 1 to April 30 to repurchase 5 million of its common shares.
Tilray (TLRY) rose 15% after Jefferies resumed coverage of the Canadian cannabis company with a buy rating and a $23 price target.
Roku (ROKU) climbed nearly 12% 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 7.5% 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.