Sector Update: Consumer Stocks Scratching Out Small Gains Near Monday Close

Last Updated: Monday, September 26, 2022 4:01 PM | MT Newswires

Consumer stocks turned narrowly higher again late in Monday trading, with the SPDR Consumer Staples Select Sector ETF (XLP) rising 0.2% and the SPDR Consumer Discretionary Select Sector ETF (XLY) climbing less than 0.1%.

In company news, Leslie's (LESL) added 8.6% after S&P Dow Jones Indices late last week said the swimming pool supplies company will join the S&P SmallCap 600 index on Wednesday, on Sept. 28, replacing GCP Applied Technologies (GCP), which is being acquired by French construction materials company Saint-Gobain.

Sportsman's Warehouse Holdings (SPWH) rose 4.3% after B Riley Securities increased its price target for the retailer by $2 to $16 and reiterated its buy rating for the company's stock.

Unilever (UL) turned fractionally higher this afternoon, overcoming a nearly 1% midday slide. The consumer-staples giant said Alan Jope will retire as CEO at end of 2023 after five years in the post. The company has started the formal search for a successor and will consider both internal and external candidates, it said.

Purple Innovation (PRPL) was slipping 2.6% this afternoon, giving back a nearly 4% gain earlier Monday after it said private-equity investor Coliseum Capital Management is offering $4.35 per share in cash to acquire the 55% of the mattress company it doesn't already own. The company has formed a special board committee to review the Coliseum offer in addition to adopting a limited-duration shareholder rights plan and distributing the right for other investors to buy an additional share for each of their existing shares.

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