Sector Update: Consumer Stocks Steady Pre-Bell Tuesday

MT Newswires Live07-02

Consumer stocks were steady in Tuesday's pre-bell hours with the Consumer Staples Select Sector SPDR Fund (XLP) inactive and the Consumer Discretionary Select Sector SPDR Fund (XLY) marginally declining.

Conn's (CONN) is considering a potential bankruptcy filing amid declining sales, Bloomberg News reported, citing unnamed sources familiar with the matter. Conn's fell by over 44% pre-bell.

Martin Radev who filed a proposed class action against Keith Patrick Gill, known as "Roaring Kitty", accusing him of engaging in a "pump-and-dump scheme" involving GameStop (GME) shares, dropped the lawsuit within four days after its initial filing, multiple media outlets reported. GameStop was down over 1% premarket.

Tyson Foods (TSN) is scaling back its antibiotic-free beef products, Bloomberg reported, citing unnamed people familiar with the mater. Shares of the company rose more than 1% pre-bell.

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