Consumer stocks were lower Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) each falling about 1%.
In corporate news, GameStop (GME) has proposed to acquire eBay (EBAY) in a cash-and-stock deal worth about $55.5 billion. GameStop fell past 7%, and eBay jumped 5.4%.
PAMT (PAMT) reported breakeven results in Q1, compared with the loss of $0.37 per diluted share a year earlier.Operating revenue in the three months ended March 31 fell to $141.9 million from $155.3 million, the company said Friday in a statement.PAMT plans to more actively implement share repurchases in Q2 under its stock buyback authorization.Price: $10.00, Change: $-0.10, Percent Change: -0.99%
Adamas Trust (ADAM) shares fell nearly 1% in Friday afternoon trading after B. Riley downgraded the stock to neutral from buy, with a price target of $9 per share.Trading volume stood at about 962,000 shares, compared with a daily average of almost 729,000.Price: $8.90, Change: $-0.09, Percent Change: -0.95%
Paramount Skydance (PSKY) shares rose 8.7% in late Friday trading after Morgan Stanley upgraded the stock to overweight from underweight and raised its price target to $14 from $11.Trading volume stood at nearly 9.2 million shares, compared with a daily average of about 13.1 million.Price: $11.12, Change: $+0.88, Percent Change: +8.61%