Sector Update: Consumer Stocks Edge Higher Premarket Tuesday

Last Updated: Tuesday, October 4, 2022 9:08 AM | MT Newswires

Consumer stocks were edging higher premarket Tuesday. The Consumer Staples Select Sector SPDR Fund (XLP) was advancing by 0.7% and the Consumer Discretionary Select Sector SPDR Fund (XLY) was up nearly 2% recently.

Poshmark (POSH) was rallying past 13% following the announcement that South Korean internet company Naver agreed to acquire Poshmark in a deal valued at $1.2 billion.

Everi Holdings (EVRI) said it has agreed to buy certain strategic assets of Venuetize. The financial terms of the deal were not disclosed. Everi Holdings was down neaerly 3% recently.

Treehouse Foods (THS) said it has completed the sale of a significant portion of its Meal Preparation business to Investindustrial for $950 million. Treehouse Foods was declining 0.1% in recent premarket activity.

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