01:50 PM EDT, 08/26/2024 (MT Newswires) -- Consumer stocks were mixed Monday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.6% and the Consumer Discretionary Select Sector SPDR Fund (XLY) down 0.9%.

In corporate news, PDD's (PDD) shares plunged 29%. The company's Q2 revenue increased year over year but fell short of market estimates, while it expects competition and external challenges to impact its future results.

Elliott Investment Management said Monday that it intends to meet with Southwest Airlines ( LUV ) representatives on Sept. 9 to discuss leadership changes. Southwest ( LUV ) shares were shedding 0.6%.

IAC's (IAC) Care.com agreed to pay $8.5 million to settle allegations it engaged in deceptive advertising to entice people to pay for subscriptions to its platform, the US Federal Trade Commission said Monday. IAC shares were adding 0.4%.