Sector Update: Consumer Stocks Mixed in Late Afternoon Trading

MT Newswires Live03-25 19:48

Consumer stocks were mixed in late Tuesday afternoon trading, with the Consumer Staples Select Sector SPDR Fund (XLP) shedding 1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) up 0.5%.

In economic news, Redbook US same-store sales last week rose by 5.6% from a year earlier after a 5.2% increase in the previous week.

In corporate news, AT&T (T) is in talks to buy Lumen Technologies' (LUMN) consumer fiber business, Bloomberg reported. AT&T shares rose 1.2%, and Lumen fell past 9%.

Tesla (TSLA) will display its new "humanoid robot" this week during a robotics event being held on Capitol Hill, Axios reported. Tesla shares were rising 2.9%.

Engine Capital has taken a 1% stake in Lyft (LYFT) worth about $50 million and is calling for a strategic review of the ride-hailing company, Bloomberg reported. Lyft shares added 2.2%.

UniFirst (UNF) shares fell past 14%. Cintas (CTAS) ended talks with UniFirst about a potential takeover. Cintas shares decreased 0.7%.

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