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Sector Update: Consumer Stocks Rise in Afternoon Trading

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Consumer stocks were higher Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 1.4%.

In corporate news, Unilever (UL) is considering a bid for Thorne, a South Carolina-based company that sells dietary supplement pills, valued at up to $4 billion, the Financial Times reported. Unilever shares were up 0.3%.

Honda Motor's (HMC) American Honda unit said Friday it restructured its Power Sports and Products group by moving its marine, powersports, and power equipment divisions under one framework. Separately, Honda Motor reappointed Chief Executive Toshihiro Mibe to its board Friday after he apologized to shareholders for the company's financial performance, news outlets reported. Honda Motor shares rose 2.7%.

DraftKings (DKNG) shares jumped 6% after the company said Friday it launched its prediction markets exchange DKeX.

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