Consumer stocks were mixed Monday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 1.4% and the Consumer Discretionary Select Sector SPDR Fund (XLY) easing 0.1%.
In corporate news, PepsiCo (PEP) announced plans on Monday to buy prebiotic soda brand Poppi for $1.95 billion as the beverage and snacks giant looks to expand its portfolio to include health-focused products. PepsiCo shares rose 1.8%.
Tyson Foods (TSN) and other US meat producers are in danger of losing billions of dollars in Chinese revenue after Beijing allowed the registration status of their export permit to expire, Reuters reported. Tyson shares were rising 1.2%.
Honda Motor (HMC) will procure batteries for its hybrid vehicles from Toyota Motor's (TM) US plant in response to President Donald Trump's tariff announcements, Nikkei reported. Honda shares rose 2%, and Toyota was up 1%.
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