Shares in the consumer discretionary sector were among the best-performing stocks, while consumer staple companies fell as traders took on more risk following the morning's tame inflation data.
Nike suffered a setback in its bid to trademark the capitalized version of the word "footware" for tech-related products after a European Union court upheld a complaint from German rival Puma. The General Court of the European Union effectively dismissed Nike's trademark application and ordered the world's biggest shoemaker to pay legal costs in Puma's favor.
Vera Bradley's stock tumbled after the women's clothing and accessories maker posted a surprise loss for its fiscal first quarter and sales that fell short of estimates. Fort Wayne, Ind.-based Vera Bradley said its customers, particularly those in the lower-income bracket, are still reeling from a lengthy period of high inflation.
Fisker has issued two voluntary recalls of its Ocean SUVs over software-related problems, adding to the carmaker's mounting woes. The electric-vehicle company said Wednesday that it has issued a safety recall for 11,201 Fisker Oceans in the U.S., Canada and Europe.
Write to Patrick Sullivan at patrick.sullivan@wsj.com
(END) Dow Jones Newswires
06-12-24 1624ET
