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Sector Update: Consumer Stocks Mixed in Afternoon Trading

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Consumer stocks were mixed Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 0.6%.

In corporate news, Campbell's (CPB) reaffirmed its full-year outlook as it reported fiscal Q3 earnings above consensus, but sales fell short of expectations. Shares were down 0.8%.

Walmart (WMT) stands to gain a competitive edge through its potential collaborations with fast-food chains and other businesses in the quick service restaurant industry, RBC said in a note. Separately, Walmart told employees that AI is intended to enhance their work rather than replace them as the retailer expands the use of the technology across its business, the Financial Times reported. Walmart shares rose 0.6%.

Uber's (UBER) efforts to buy Delivery Hero could face a new hurdle as Saudi Arabia-based startup Ninja is considering a bid for some of the German food delivery firm's Middle East assets, the Financial Times reported. Shares fell 0.5%.

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