Sector Update: Consumer Stocks Steady Pre-Bell Monday

MT Newswires Live06-24

Consumer stocks were steady pre-bell Monday with the Consumer Discretionary Select Sector SPDR Fund (XLY) inactive and the Consumer Staples Select Sector SPDR Fund (XLP) modestly higher.

Sonoco Products (SON) said it has entered an agreement to acquire Eviosys, a European manufacturer and supplier of metal packaging, from KPS Capital Partners for about $3.9 billion on a cash-free, debt-free basis. Sonoco Products was more than 1% lower premarket.

Target (TGT) said it has agreed to sell products from the platform Shopify (SHOP) on its third-party digital marketplace, Target Plus. Shopify was up more than 1% pre-bell.

Under Armour (UA) fell past 3% after saying late Friday it has agreed to pay $434 million to resolve a securities class action litigation filed in 2017.

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