03:47 PM EDT, 05/02/2024 (MT Newswires) -- Consumer stocks were higher late Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) adding 1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) up 1.3%.

In corporate news, Sony ( SONY ) and Apollo (APO) have made a $26 billion all-cash offer for Paramount (PARA), The Wall Street Journal reported Thursday. Paramount shares jumped 12%, while Sony ( SONY ) rose 1.7% and Apollo added 3.8%.

DoorDash's ( DASH ) shares plunged almost 10% after the food delivery firm reported a wider-than-expected loss in Q1.

Carvana ( CVNA ) late Wednesday swung to Q1 profit and net sales and operating revenue jumped from a year ago. Its shares surged 34%.

Peloton (PTON) shares tumbled 4.2% after the company said Thursday it's cutting its global headcount by nearly 15%. The company also said Chief Executive Barry McCarthy is stepping down and will serve as a strategic adviser through the end of this year.