Sector Update: Consumer Stocks Mixed in Late Afternoon Trading

MT Newswires Live08-19

Consumer stocks were mixed late Monday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) easing 0.1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) adding 0.4%.

In corporate news, Starbucks (SBUX) will offer all US salaried employees a 2% pay increase this year, Bloomberg reported. Starbucks shares rose 2.4%.

Newsmax (NMAX) shares jumped 14% after the company agreed to pay $67 million to Dominion Voting Systems and some of its affiliates to settle a 2021 defamation lawsuit.

Soho House (SHCO) agreed to be taken private by an investor group led by hotel operator MCR Hotels and its Chief Executive Officer Tyler Morse in a deal that values the global private membership platform at about $2.7 billion. Soho House shares surged 15%.

Crocs (CROX) and the National Football League entered into a multiyear licensing deal to launch co-branded footwear and accessories, Adweek reported Monday. Crocs shares fell 2.1%.

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