01:45 PM EDT, 05/13/2024 (MT Newswires) -- Consumer stocks were declining Monday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) decreasing 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) shedding 0.3%.

In corporate news, GameStop ( GME ) shares soared 68% after "Roaring Kitty" -- the social media persona behind the 2021 rally in the video game retailer's stock -- resurfaced on X after a seemingly three-year hiatus.

Kraft Heinz ( KHC ) is looking to sell Oscar Mayer, which could fetch the company between $3 billion and $5 billion, the Wall Street Journal reported. Kraft Heinz ( KHC ) shares rose 0.5%.

McDonald's (MCD) unit in China said Monday it is "actively cooperating" with Chinese market regulators to investigate and verify media reports about local food issues. McDonald's shares fell nearly 1%.