09:13 AM EDT, 04/17/2024 (MT Newswires) -- Consumer stocks were edging higher premarket Wednesday with the Consumer Staples Select Sector SPDR Fund (XLP) up 0.1% and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) recently advancing by 0.2%.

The Federal Trade Commission is preparing to sue in order to block Tapestry's (TPR) $8.5 billion takeover of Capri Holdings ( CPRI ) , NYT DealBook reported, citing two unidentified people with knowledge of the matter. Capri Holdings ( CPRI ) shares were down more than 2% pre-bell.

Six Flags Entertainment ( SIX ) and its subsidiary Six Flags Theme Parks proposed a private offering of up to $850 million of senior secured notes due 2032, the company said. Six Flags Entertainment ( SIX ) shares were 0.3% higher premarket.

Mondelez ( MDLZ ) will be fined millions of euros by the European Commission as early as May for restricting sales of its products between European Union member states, the Financial Times reported, citing unnamed sources. Mondelez ( MDLZ ) shares were up 0.2% in recent premarket activity.