Financial Wire

Sector Update: Consumer Stocks Mixed Late Afternoon

-- Consumer stocks were mixed late Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increasing 0.5%.

In corporate news, Williams-Sonoma (WSM) shares rose 2.2% after Goldman Sachs upgraded the stock to buy from neutral and raised its price target to $218 per share from $185.

Lululemon Athletica (LULU) is being investigated in Texas over the potential presence of PFAS, or forever chemicals, in its activewear products, the office of Texas Attorney General Ken Paxton said in a statement. Lululemon shares fell 1%.

Somnigroup International (SGI) has agreed to acquire bedding and furniture components maker Leggett & Platt (LEG) in an all-stock deal worth about $2.5 billion. Somnigroup shares rose 2.1%, and Leggett & Platt jumped 12%.

Delaware Court of Chancery Vice Chancellor Bonnie David said Monday that she supports Tesla (TSLA) shareholders' vote to have litigation pertaining to alleged corporate wrongdoing by Chief Executive Elon Musk take place in Texas, Bloomberg reported. Tesla shares were up 0.7%.

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Sector Update: Consumer Stocks Mixed Late Afternoon | Financial Wire