Sector Update: Consumer Stocks Flat to Lower Premarket Tuesday
Consumer stocks were flat to lower premarket Tuesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) inactive and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.3%.Mama's Creations (MAMA) shares were down more than 14% after the company priced a registered underwritten public offering of 5.6 million shares at $18.00 each, for gross proceeds of around $100 million.Edible Garden (EDBL) has entered into a non-binding letter of intent for a strategic commercialization alliance with an established partner in the sustainable food and agriculture sector, the company said. Edible Garden stock was up more than 84% premarket.Philip Morris International (PM) made an early $1.1 billion payment toward the 5-year segment of its senior unsecured term loan, the company said in a filing. Shares of Philip Morris International were 0.4% lower pre-bell.
