Sector Update: Consumer Stocks Mixed Pre-Bell Monday

MT Newswires Live01-27

Consumer stocks were mixed pre-bell Monday as the Consumer Staples Select Sector SPDR Fund (XLP) was 0.6% higher and the Consumer Discretionary Select Sector SPDR Fund (XLY) recently declined by 1.3%.

Dada Nexus (DADA) shares rose past 30% after the company said its board has received a preliminary, non-binding proposal from JD.com (JD) to purchase all of its outstanding ordinary shares, including ADSs, for $2.0 per ADS in cash.

Ermenegildo Zegna (ZGN) shares were up 1% after the company reported a higher Q4 revenue.

Diageo (DEO) shares were down 0.3% after the company said it has no intention to sell either its Guinness brand or stake in Moet Hennessy. The statement was issued in response to a Friday report from Bloomberg, where sources said the company is looking into potentially spinning off or selling its premier beer brand Guinness that would likely be valued at more than $10 billion.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment