Consumer companies rose as the renewal of the meme-stock craze offset mixed earnings. GameStop surged roughly 60% to $48.75, by far its highest level since the meme heyday of 2021, adding to Monday's gains as famous day trader Keith Gill reportedly returned to orchestrating buying raids of GameStop, forcing short-sellers to buy back stakes they had borrowed in the videogame-chain in hopes of a decline. Home Depot shares fell after the home-improvement retailer posted quarterly sales short of the average Wall Street target. Shares of Jack in the Box ticked up even after it cut its projection for sales growth at its Del Taco brand. Walmart shares ticked down after reports that the world's largest retailer, which reports earnings later this week, was cutting hundreds of corporate jobs and asking some staff to relocate.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
05-14-24 1752ET
