03:51 PM EDT, 03/11/2024 (MT Newswires) -- Consumer stocks were mixed late Monday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) adding 0.5% and the Consumer Discretionary Select Sector SPDR Fund (XLY) shedding 0.3%.

In corporate news, Duolingo ( DUOL ) shares rose 4.2% as JPMorgan started coverage of the company with an overweight rating and $270 price target.

Bally's (BALY) shareholder Standard General is proposing to buy all of the remaining stock for $15 a share, according to a filing. Bally's shares surged almost 29%.

Choice Hotels International ( CHH ) pulled its takeover bid for Wyndham Hotels & Resorts ( WH ) on Monday after the former's exchange offer expired, while Wyndham separately called the offer "inadequate." Choice Hotels ( CHH ) shares rose 5%, and Wyndham gained 2.2%.

Uber ( UBER ) is set to launch its electric ride sharing service in New York after the city lifted a cap on EV ride hailing licenses, The Verge reported Monday. Uber ( UBER ) shares fell 1.5%.