Consumer stocks were mixed Monday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.8% and the Consumer Discretionary Select Sector SPDR Fund (XLY) dropping 3.3%.
In corporate news, PepsiCo (PEP) and General Mills (GIS) are among several major food companies whose executives are expected to meet with US Secretary of Health and Human Services Robert F. Kennedy Jr. on Monday, Politico reported. PepsiCo shares rose 2.8% and General Mills climbed 3.5%.
Ford (F) said Monday it will inject up to 4.4 billion euros ($4.77 billion) of new capital and financing into a comprehensive business plan for its Ford-Werke unit in Germany. Ford shares added 0.2%.
QXO (QXO) is in discussions to acquire Beacon Roofing Supply (BECN) for about $11 billion, the companies said Monday. QXO shares shed 0.2% and Beacon jumped 7.4%.
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