FINWIRES · TerminalLIVE
FINWIRES

Sector Update: Consumer Stocks Decline in Afternoon Trading

By

Consumer stocks were lower Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) shedding 1.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 2.1%.

In corporate news, MGM Resorts International (MGM) shares jumped past 15% after the firm confirmed that it has received an offer from People Inc. to acquire all MGM shares that it does not already own for $48.30 per share in cash.

Taylor Morrison Home (TMHC) shares surged 22% after the homebuilder agreed to be acquired and taken private by conglomerate Berkshire Hathaway (BRK.A, BRK.B) in an all-cash deal with an equity value of about $6.8 billion.

Walmart (WMT) is capping its staff's usage of an artificial intelligence agent following a period of high demand, Bloomberg reported. The retail giant is now offering a limited amount of "tokens" per worker to use the AI agent, called Code Puppy, which helps employees with spreadsheets and presentations, among other tasks, the report said. Walmart shares were down 1.5%.

Related Articles

Sectors

Sector Update: Financial

Financial stocks were lower in Monday afternoon trading, with the NYSE Financial Index shedding 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) decreasing 0.5%.The Philadelphia Housing Index was down 0.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) fell 1%.Bitcoin (BTC-USD) was declining 2.9% to $71,425, and the yield for 10-year US Treasuries rose 2.8 basis points to 4.48%.In corporate news, Wise (WSE) shares fell 4.5% after the company said it is cooperating with the Brussels prosecutor's office following press reports that it is being probed over its compliance with anti-money laundering rules.

$WSE
Sectors

Sector Update: Tech Stocks Mixed Monday Afternoon

Tech stocks were mixed Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 2.4% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 1.2%.The Philadelphia Semiconductor index rose 1.5%.In corporate news, Amazon-backed (AMZN) Anthropic has confidentially submitted a draft registration statement for a proposed initial public offering to the US Securities and Exchange Commission, the company said Monday. Amazon shares were down 3.2%.Nvidia (NVDA) has launched RTX Spark, a new AI chip that will be used in Microsoft (MSFT) Windows laptops and desktops. Nvidia's shares climbed 5%, and Microsoft added 2.2%.Salesforce (CRM) shares gained 9.6% after the company said it will invest $2 billion in France through 2030 to expand its AI and cloud operations.

$AMZN$CRM$MSFT$NVDA
Sectors

Sector Update: Energy

Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index rising 2% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.8%.The Philadelphia Oil Service Sector Index increased 0.5%, and the Dow Jones US Utilities Index fell 2.4%.In sector news, Iran's reported threats to halt the indirect peace talks with Washington sent crude oil prices higher. Iranian negotiators will stop exchanging messages with the US through intermediaries, and Tehran will fully close the Strait of Hormuz in retaliation against ongoing ceasefire violations, CNBC reported, citing Iran's state-affiliated news outlet Tasnim on Monday. The report, in a translated post on the social media site Telegram, homed in on Israel's military operations in Lebanon against the Iran-backed militia Hezbollah, CNBC reported.Front-month West Texas Intermediate jumped 6.3% to $92.86 a barrel, and the global benchmark Brent crude contract climbed 5.4% to $96.05 a barrel. Henry Hub natural gas futures fell 3% to $3.19 per 1 million BTU.In corporate news, Devon Energy (DVN) shares jumped 4%. Reuters reported Friday that Devon received an $8 billion offer from Stone Ridge Asset Management for its Marcellus shale assets in Pennsylvania.

$DVN