Sector Update: Consumer Stocks Extending Monday Advance

MT Newswires · 10/04/2022 03:54

03:53 PM EDT, 10/03/2022 (MT Newswires) -- Consumer stocks were ending broadly higher in Monday trading, with the SPDR Consumer Staples Select Sector ETF (XLP) climbing 1.9% and the SPDR Consumer Discretionary Select Sector ETF (XLY) rising 0.7%.

In company news, Blue Apron (APRN) plunged over 43% after the direct-to-consumer recipe and food delivery company announced plans for an at-the-market offering of up to $15 million of its class A common shares from time to time through Canaccord Genuity as its sales agent.

Tesla (TSLA) fell 8.2% after the electric-vehicle company said it delivered 343,830 vehicles during the just-completed Q3, up from 241,300 vehicles during the year-ago period but still lagging Wall Street expectations for 364,660 deliveries during the three months ended Sept. 30 as the company launched a new regionally based delivery system. Overall, Tesla produced 365,923 units during Q3, it said.

ABB (ABB) declined 5% after Monday completing the spinoff of its Accelleron Industries turbocharging technology subsidiary, which will trade on the SIX Swiss Exchange in Zurich using the ACLN ticker symbol.

Among gainers, Innovative Eyewear (LUCY) rallied Monday, climbing over 13%, after announcing a multi-year global license to the Nautica brand for smart eyewear expected to launch during the upcoming holiday season and powered by its Lucyd technology.

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