03:50 PM EDT, 06/17/2024 (MT Newswires) -- Consumer stocks rose late Monday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) adding 1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) climbing 2%.

In corporate news, Tesla (TSLA) on Friday sued Matthews International ( MATW ) for allegedly stealing confidential trade secrets related to the automaker's dry-electrode battery manufacturing technology and disclosing them to Tesla competitors. Tesla shares jumped 5.7%, and Matthews tumbled 6.9%.

RH (RH) shares "requires extra patience" as macro hurdles counter prospects for new products and European expansion, Morgan Stanley said Monday in a note. The investment firm cut the price target on RH to $300 from $320 and kept the equalweight rating. RH shares were rising 0.5%.

Primo Water ( PRMW ) agreed to merge with BlueTriton in an all-stock deal that will create a new publicly traded drinking-water company in North America with nearly $7 billion in combined revenue. Primo Water ( PRMW ) shares spiked 1.5%.

Aaron's (AAN) shares soared 33% after it said Monday that it has agreed to be acquired by IQVentures for $10.10 per share in cash for an enterprise value of about $504 million.