Sector Update: Consumer Stocks Mixed in Afternoon Trading

MT Newswires Live
Jul 07

Consumer stocks were mixed Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 0.6%.

In corporate news, Rogers Communications (RCI) said Monday it has signed an agreement to buy the remaining 25% ownership stake in Maple Leaf Sports & Entertainment from Kilmer Sports for 4.35 billion Canadian dollars ($3.06 billion), making it the 100% owner of the company. Rogers shares rose 1.1%.

Uber (UBER) has paused most of its planned food delivery expansion in Europe as it continues efforts to acquire rival Delivery Hero, the Financial Times reported. The company has shelved planned launches in five of the seven countries it had targeted for this year, including Austria, Norway, and Greece, the report said. Uber shares were down 1.3%.

Grab (GRAB) said Monday in a regulatory filing that Uber CEO Dara Khosrowshahi has stepped down from its board of directors, effective July 6. The company said Uber's economic interest in Grab remains unchanged by the board transition. Grab shares fell 3.7%.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10