Consumer stocks were higher Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) up 0.1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) rising 1.2%.
In corporate news, Gildan Activewear (GIL) and Hanesbrands (HBI) said they struck a deal for Gildan to buy Hanesbrands in a cash-and-stock deal with an equity value of about $2.2 billion. Gildan shares jumped past 10%, and Hanesbrands added 3.7%.
Amazon.com (AMZN) shares rose 1.4% after the firm said it is expanding its same-day delivery service to include fresh groceries in more than 1,000 US locations. Shares of Walmart (WMT), Kroger (KR), Albertsons (ACI), Target (TGT) and Costco (COST) were all lower. Maplebear (CART) lost 12%.
Madison Square Garden Entertainment (MSGE) swung to a fiscal Q4 loss amid a slump in event-related revenue. Shares fell 10%.
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