Sector Update: Consumer Stocks Advance in Afternoon Trading

MT Newswires Live
02-11

Consumer stocks rose Monday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.3% and the Consumer Discretionary Select Sector SPDR Fund (XLY) adding 0.6%.

In corporate news, Hyatt Hotels (H) agreed to buy Playa Hotels & Resorts (PLYA) for $2.6 billion, including $900 million of debt. Hyatt shares dropped 1%, and Playa rose 2.2%.

McDonald's (MCD) posted a surprise same-store sales increase for Q4, while revenue unexpectedly fell, as the fast-food giant continued to face the impact of an E. coli outbreak last year. The shares rose 4.8%.

Lyft (LYFT) intends to launch fully autonomous robotaxis on its app "as soon as 2026" in Dallas with more markets to follow, TechCrunch reported. Lyft shares rose 4.5%.

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