Sector Update: Consumer Stocks Rise Late Afternoon

MT newswire2026/10/05 19:37

03:37 PM EDT, 10/05/2026 (MT Newswires) -- Consumer stocks were higher late Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 0.6%. In corporate news, McDonald's (MCD) is facing a proposed class-action lawsuit alleging it used an algorithm-driven pricing tool to fix menu prices across its US restaurants, according to a complaint filed in federal court. Its shares were up 0.2%. Neighborhood Intelligence (NXH) said Monday it has agreed to sell nearly 16.5 million shares at $2.76 per share, or pre-funded warrant in lieu, in a registered direct offering. The company, previously known as Bed Bath & Beyond, said that in addition it will issue warrants to buy up to about 16.1 million shares. Separately, Neighborhood Intelligence and Fathom's (FTHM) boards have mutually agreed to terminate their planned merger, the company said. Neighborhood Intelligence shares fell 25%. Walmart (WMT) and Alphabet (GOOGL) unit Wing plan to expand their drone delivery service to the Denver and Seattle metropolitan areas in 2027. The additions will bring the service to nearly 20 US metro areas with plans to reach more than 270 Walmart stores nationwide, Wing said Monday. Walmart shares rose 0.7%. Paramount Skydance (PSKY) Chairman and Chief Executive David Ellison will be chairman and CEO of the combined company following the anticipated close of Paramount's acquisition of Warner Bros. Discovery (WBD), Paramount said. Paramount shares were up 2.8%, and Warner Bros. increased 0.2%.

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