-- Consumer stocks were mixed Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 1.3%.
In corporate news, Domino's Pizza's (DPZ) Q1 results will likely miss Wall Street's estimates, with economic challenges expected to drive a downgrade to the pizza restaurant operator's same-store sales outlook for the US, RBC Capital Markets said in a note. Domino's Pizza shares were down 0.1%.
Stellantis (STLA) is considering reviving a partnership with Dongfeng Motor under which the companies would jointly produce cars in Europe and China, Bloomberg reported. Stellantis shares gained 1.9%.
Allbirds (BIRD) said Wednesday it has executed a definitive agreement with an institutional investor for a $50 million convertible financing facility that will enable it to pivot its business to AI compute infrastructure. Allbirds shares soared 621%.