Sector Update: Consumer Stocks Rise Premarket Tuesday

MT Newswires Live08-12

Consumer stocks were rising premarket Tuesday, with the Consumer Staples Select Sector SPDR Fund (XLP) 0.1% higher and the Consumer Discretionary Select Sector SPDR Fund (XLY) up 0.8%.

Gildan Activewear (GIL) is closing in on a deal to acquire Hanesbrands (HBI) at nearly $5 billion including debt, the Financial Times reported, citing people familiar with the matter. Shares of Hanesbrands were up more than 37% and Gildan Activewear stock was down more than 6% pre-bell.

Sea (SE) stock was up more than 14% after the company posted higher Q2 earnings and revenue.

On Holding (ONON) shares were up nearly 17% after the company reported higher Q2 net sales and raised its 2025 net sales outlook.

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