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Sector Update: Consumer Stocks Lean Lower Premarket Monday
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Sector Update: Consumer Stocks Lean Lower Premarket Monday
Oct 7, 2024 6:34 AM

09:14 AM EDT, 10/07/2024 (MT Newswires) -- Consumer stocks were leaning lower premarket Monday with the Consumer Staples Select Sector SPDR Fund ( XLP ) down 0.2% and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) 0.4% lower recently.

The Duckhorn Portfolio ( NAPA ) shares were up more than 102% after the company reported fiscal Q4 adjusted net income per share and net sales that topped estimates from analysts polled by Capital IQ. Separately, the company and Butterfly Equity said they signed a deal for the private equity firm to buy Duckhorn for roughly $1.95 billion in cash, or $11.10 per share.

Vista Outdoor ( VSTO ) shares were up almost 10% after the company said it signed a definitive deal to sell its Revelyst unit to funds managed by Strategic Value Partners under an all-cash transaction with an enterprise value of approximately $1.3 billion.

Wynn Resorts ( WYNN ) shares were almost 2% higher after the company said its joint venture with Marjan and RAK Hospitality was granted a commercial gaming facility operator license in the United Arab Emirates for the development of the Wynn Al Marjan Island resort in Ras Al Khaimah, UAE.

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