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Consumer Sector Update for 08/02/2021: EVK,ROVR,RACE

Consumer stocks were mixed in Monday trading, with the SPDR Consumer Staples Select Sector ETF (XLP) sinking 0.4% while the SPDR Consumer Discretionary Select Sector ETF (XLY) was rising 0.7%.

In company news, Ever-Glory International (EVK) more than doubled in price on Monday, rising over 119% in recent trading, after the branded apparel retailer authorized a $5 million stock buyback program running through the end of the year.

Rover Group (ROVR) was 6% higher during its first day as a public company after the ecommerce platform for pet sitters and dog walkers Monday completed its merger with Nebula Caravel Acquisition (NEBC), a blank-check company backed by True Wind Capital.

To the downside, Ferrari (RACE) slid 2.3% after the carmaker reported 1.04 billion euros in Q2 sales, up more than 82% over the year-ago period but still trailing the Capital IQ consensus expecting 1.07 billion euros in sales for the three months ended June 30.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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