Business / Finance

Consumer Sector Update for 06/09/2023: NAPA, LWAY, NIO, XLP, XLY

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2023-06-09 13:15:04  • 1 min

Consumer stocks were mixed pre-bell Friday, with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) over 1% higher.

The Duckhorn Portfolio (NAPA) was up more than 6% after the company overnight reported higher-than-expected fiscal Q3 adjusted earnings and sales in addition to raising its fiscal 2023 outlook.

Lifeway Foods (LWAY) shareholder Kanen Wealth Management called for the sale of the dairy product manufacturer, accusing the company's leadership of mismanagement. Lifeway Foods stock was 2% lower in recent Friday premarket activity.

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