Sector Update: Consumer Stocks Mixed in Afternoon Trading
Consumer stocks were mixed Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.8%. In corporate news, Paramount Skydance (PSKY) and Warner Bros. Discovery (WBD) are facing a lawsuit from California Attorney General Rob Bonta led coalition of 12 state attorneys general seeking to block the companies' proposed $110 billion merger deal, the AG said. Paramount shares were up 2%, and Warner Bros. climbed 3%. Papa John's (PZZA) CFO's departure likely suggests a sharp operational turnaround is unlikely in the near term at the pizza chain, BofA Securities said in a note. Last month, Papa John's appointed Chris Collins as interim finance chief, replacing Ravi Thanawala, who will take on the CFO role at American Eagle Outfitters (AEO). BofA downgraded Papa John's rating to underperform from neutral and decreased the price target to $34 from $42. Papa John's shares were down 1%. New York Times (NYT) reporters were subpoenaed by the Trump administration as part of a leak investigation tied to the newspaper's reporting on security concerns involving a.
Consumer stocks were mixed Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.8%.
In corporate news, Paramount Skydance (PSKY) and Warner Bros.
Discovery (WBD) are facing a lawsuit from California Attorney General Rob Bonta led coalition of 12 state attorneys general seeking to block the companies' proposed $110 billion merger deal, the AG said.
Paramount shares were up 2%, and Warner Bros. climbed 3%.
Papa John's (PZZA) CFO's departure likely suggests a sharp operational turnaround is unlikely in the near term at the pizza chain, BofA Securities said in a note.
Last month, Papa John's appointed Chris Collins as interim finance chief, replacing Ravi Thanawala, who will take on the CFO role at American Eagle Outfitters (AEO).
BofA downgraded Papa John's rating to underperform from neutral and decreased the price target to $34 from $42.
Papa John's shares were down 1%.
New York Times (NYT) reporters were subpoenaed by the Trump administration as part of a leak investigation tied to the newspaper's reporting on security concerns involving a.