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Sector Update: Consumer Stocks Mixed Late Afternoon

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Consumer stocks were mixed late Tuesday afternoon with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) falling 1.2%.

In sector news, Redbook US same-store sales last week rose 9.6% from a year earlier after a 7.8% increase in the previous week. Redbook cited higher sales of seasonal products including clothing, footwear and outdoor goods due to warmer temperatures and graduation sales.

In corporate news, Under Armour (UAA) issued weaker-than-expected full-year guidance after the sportswear maker's fiscal Q4 adjusted loss narrowed less than analysts anticipated. The shares fell 18%.

EBay (EBAY) rejected video game retailer GameStop's (GME) proposal to acquire the e-commerce company in what would have been a $55.5 billion deal. GameStop shares fell 3.2%, and eBay rose 2.3%.

Wendy's (WEN) shares surged 17% after the Financial Times reported the company faces a potential take-private bid from Trian Fund Management.

Sea (SE) reported Q1 revenue above market estimates as the Shopee parent saw growth across all core business segments. The shares climbed 13%.

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