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FINWIRES

Sector Update: Consumer Stocks Mixed Monday Afternoon

-- Consumer stocks were mixed Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) dropping 1.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increasing 0.6%.

In corporate news, Lululemon Athletica (LULU) is being investigated in Texas over the potential presence of PFAS, or forever chemicals, in its activewear products, the office of Texas Attorney General Ken Paxton said in a statement. Lululemon shares were fractionally lower.

Somnigroup International (SGI) has agreed to acquire bedding and furniture components maker Leggett & Platt (LEG) in an all-stock deal worth about $2.5 billion. Somnigroup shares rose 2.8%, and Leggett & Platt jumped 13%.

Delaware Court of Chancery Vice Chancellor Bonnie David said Monday that she supports Tesla (TSLA) shareholders' vote to have litigation pertaining to alleged corporate wrongdoing by Chief Executive Elon Musk take place in Texas, Bloomberg reported. Tesla shares were up 1.5%.

McDonald's (MCD) plans to roll out a new lineup of cold beverages in the US, including a Red Bull Dragonberry Energizer, The Wall Street Journal reported. The fast food giant's shares were down 0.5%.

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