Consumer stocks were softer Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.3%.

In corporate news, Cintas (CTAS) on Wednesday agreed to buy UniFirst (UNF) in a cash-and-stock deal worth about $5.5 billion as the uniform supplier aims to expand service capabilities. Cintas shares rose 2.3%, and UniFirst jumped past 8%.