09:17 AM EDT, 08/12/2025 (MT Newswires) -- Consumer stocks were rising premarket Tuesday, with the Consumer Staples Select Sector SPDR Fund ( XLP ) 0.1% higher and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) up 0.8%.

Gildan Activewear ( GIL ) is closing in on a deal to acquire Hanesbrands ( HBI ) at nearly $5 billion including debt, the Financial Times reported, citing people familiar with the matter. Shares of Hanesbrands ( HBI ) were up more than 37% and Gildan Activewear ( GIL ) stock was down more than 6% pre-bell.

Sea (SE) stock was up more than 14% after the company posted higher Q2 earnings and revenue.

On Holding ( ONON ) shares were up nearly 17% after the company reported higher Q2 net sales and raised its 2025 net sales outlook.