Sector Update: Consumer Stocks Decline Friday Afternoon
Written by Emily J. Thompson, Senior Investment Analyst
Source: NASDAQ.COM
- Consumer Stocks Performance: Consumer stocks, represented by XLP and XLY, were down in the afternoon, with XLP falling by 0.6% and XLY by 1%.
- Nike's Financial Report: Nike reported a decline in fiscal Q4 revenue that missed estimates, leading to a 20% drop in its shares; it also revised its outlook.
- Toyota's Electric Car Plans: Toyota is set to launch its first electric-car model with an advanced autonomous driving system in China next year, contributing to a 0.5% increase in its shares.
- Six Flags Entertainment News: Six Flags Entertainment saw a 2% increase in its shares after announcing the introduction of Six Flags Metaverse on Roblox; however, Roblox itself was down by 0.4%.
- Disclaimer on Views: The expressed views and opinions in the article belong to the author and may not necessarily represent those of Nasdaq, Inc.
Analyst Views on TM
About TM
Toyota Motor Corp is a Japan-based company mainly engaged in the automotive business, as well as financial services and other businesses. It operates through three business segments. The Automotive segment designs, manufactures, and sells automobiles, including sedans, minivans, compact cars, sport utility vehicles (SUVs), and trucks, as well as related parts and accessories. The Financial Services segment provides financing and vehicle leasing services to complement the sales of automobiles and other products manufactured by itself and its affiliates. The Other segment engages in information and communications services. It also oversees manufacturing and sales companies, conducts public relations and research activities, oversees financial companies, and develops various mobility products, primarily software.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
