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Sector Update: Consumer Stocks Mixed in Afternoon Trading

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Consumer stocks were mixed Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.2%.

In sector news, retail sales slid 0.6% amid declines in spending on motor vehicles and at gas stations, following a 0.2% increase in June, the Census Bureau reported Friday. The consensus was 0.1% growth, according to a survey compiled by Bloomberg.

The University of Michigan's preliminary consumer sentiment index fell to 51.0 in August from 55.2 in July, below expectations for a much smaller decrease to 55.0 in a Bloomberg-compiled survey.

In corporate news, Tesla (TSLA) is planning to reveal its new Roadster as soon as this month at an event that will feature a "flying" stunt, The Information reported. A limited edition of the Roadster that uses SpaceX (SPCX) cold gas thrusters will demonstrate its flying capabilities at the event, which is expected to take place at SpaceX's testing site in McGregor, Texas, the report said. Tesla shares were up 0.2%.

Birkenstock (BIRK) shares fell 2.5% after it said Friday that an entity affiliated with L Catterton launched a $1 billion underwritten secondary offering of the company's ordinary shares.

Tyson Foods (TSN) will end operations at its Joslin, Illinois, beef facility and its Eagle Mountain, Utah, case-ready facility as part of a restructuring of its beef business, the company said late Thursday. The company is also pursuing the sale of its Pasco, Washington, beef facility, it said. Tyson shares rose 3.2%.

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