Sector Update: Consumer Stocks Lean Higher Premarket Wednesday

MT Newswires Live03-26

Consumer stocks leaned higher premarket Wednesday with the Consumer Staples Select Sector SPDR Fund (XLP) rising by 0.1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) recently up 0.03%.

GameStop (GME) shares rose past 11% after the company reported higher fiscal Q4 adjusted earnings. The company also said its board unanimously approved an update to its investment policy, allowing bitcoin to be added as a treasury reserve asset.

Dollar Tree (DLTR) shares were up over 2% after the company said it agreed with Brigade Capital Management and Macellum Capital Management to sell its Family Dollar business for $1.01 billion. The company also reported a higher fiscal Q4 revenue.

Chewy (CHWY) shares advanced by over 5% after the company reported higher fiscal Q4 adjusted earnings and net sales.

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