Consumer stocks were lower Monday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.7% and the Consumer Discretionary Select Sector SPDR Fund (XLY) sliding 0.8%.
In corporate news, Walt Disney (DIS) said Monday it appointed current Morgan Stanley (MS) Executive Chairman James Gorman as its board chair, and that it will announce Chief Executive Bob Iger's replacement in early 2026. Disney shares fell 1.1% in recent trading.
Mondelez (MDLZ) on Monday sold its stake in Dutch coffee maker JDE Peet's to investment firm JAB in a deal worth 2.16 billion euros ($2.34 billion). Mondelez shares were down 1.3%.
PLBY Group (PLBY) shares jumped nearly 15%. The company received interest from Cooper Hefner-led Hefner Capital regarding an acquisition of the Playboy brand, Bloomberg reported.
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