Consumer stocks leaned higher premarket Wednesday with the Consumer Staples Select Sector SPDR Fund (XLP) rising by 0.1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) recently up 0.03%.
GameStop (GME) shares rose past 11% after the company reported higher fiscal Q4 adjusted earnings. The company also said its board unanimously approved an update to its investment policy, allowing bitcoin to be added as a treasury reserve asset.
Dollar Tree (DLTR) shares were up over 2% after the company said it agreed with Brigade Capital Management and Macellum Capital Management to sell its Family Dollar business for $1.01 billion. The company also reported a higher fiscal Q4 revenue.
Chewy (CHWY) shares advanced by over 5% after the company reported higher fiscal Q4 adjusted earnings and net sales.
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.