Sector Update: Consumer Stocks Mixed Premarket Tuesday
Consumer stocks were mixed premarket Tuesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 1.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) 0.9% lower.Edgewell Personal Care (EPC) has rejected an unsolicited $30-per-share takeover bid from private equity firm Yellow Wood Partners, with the board deeming the offer too low, Bloomberg reported, citing people familiar with the matter. Shares of Edgewell Personal Care were up more than 9% pre-bell.Keurig Dr Pepper (KDP) shares were up more than 1% after the company said it has launched a search process for the future CEO of Global Coffee, which will be separated as an independent public entity.Ulta Beauty (ULTA) will begin selling Bath & Body Works (BBWI) products at over 600 retail locations on July 12 as part of turnaround plans by both companies, Reuters reported, citing company executives. Ulta Beauty shares were 0.7% lower, while Bath & Body Works stock was up 0.3% pre-bell.
