Consumer stocks were mixed Wednesday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) easing 0.1%.

In corporate news, Stellantis (STLA) plans to invest $13 billion in the US over the next four years to expand production and manufacturing. The stock rose 2%.

Papa John's (PZZA) shares jumped 8.5% after Reuters reported that Apollo Global Management (APO) offered to acquire the company in a take-private deal for $64 a share.

TrueCar (TRUE) shares surged 61% after the company agreed to be acquired by Fair Holdings, an entity led by TrueCar founder Scott Painter, for $227 million in cash.