Sector Update: Consumer Stocks Slipping in Afternoon Trading

Consumer stocks were lower Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) decreasing fractionally and the Consumer Discretionary Select Sector SPDR Fund (XLY) down 0.4%.

In corporate news, Keurig Dr Pepper KDP reported stronger-than-expected Q1 financial results on Thursday while announcing that Chief Operating Officer Tim Cofer will begin serving as chief executive on Friday. Its shares rose 4.3%.

Southwest Airlines LUV lowered its 2024 revenue outlook amid Boeing (BA) delivery delays after reporting weaker-than-expected Q1 results, while American Airlines AAL swung to a bigger-than-expected quarterly loss. Southwest shares tumbled almost 9% while American was up 0.2%.

Harley-Davidson HOG shares dropped nearly 17% after the company reported lower Q1 results.