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Sector Update: Consumer Stocks Mixed Tuesday Afternoon

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Consumer stocks were mixed Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.9% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 1.4%.

In sector news, Redbook US same-store sales rose by 9.6% from a year earlier in the week ended May 9 after a 7.8% year-over-year increase in the previous week. Redbook noted higher sales of seasonal products including clothing, footwear and outdoor goods due to rising temperature and graduation sales.

In corporate news, 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 were down 0.7%, and EBay rose 1.1%.

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

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

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