03:54 PM EDT, 03/20/2024 (MT Newswires) -- Consumer stocks rose late Wednesday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) adding 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) gaining 1.4%

In corporate news, Lifeway Foods ( LWAY ) shares soared 22% after Q4 earnings jumped from a year earlier on higher sales.

Apollo Global Management ( APO ) made an $11 billion bid to buy Paramount Global's ( PARAA ) film and TV studio, The Wall Street Journal reported Wednesday. Paramount shares jumped 12%, and Apollo gained 1.4%.

Signet Jewelers' ( SIG ) fiscal Q4 sales declined from a year earlier, missing market estimates, and the company issued a downbeat revenue outlook. The shares tumbled 12%.

TKO Group ( TKO ) gained 7.6% after the company disclosed it will pay $335 million in a settlement on claims asserted in two class action lawsuits by UFC athletes alleging violations of the Sherman Act.