03:48 PM EDT, 06/10/2024 (MT Newswires) -- Consumer stocks were mixed late Monday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) decreasing 0.1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) adding 0.3%.

In corporate news, the US Court of Appeals for the 9th Circuit rejected an appeal by Uber ( UBER ) , Postmates and two individuals challenging the constitutionality of a California law that requires the companies to treat gig workers as employees rather than independent contractors. Uber ( UBER ) shares fell 0.7%.

Krispy Kreme's (DNUT) stock seems to be undervalued despite the potential financial benefits of its new McDonald's (MCD) partnership, which Truist Securities said may help the donut chain exceed its revenue growth algorithm and expand its legacy business. The brokerage upgraded the stock to buy from hold and lifted its price target to $15 from $13. Krispy Kreme shares jumped 6.2%.

Planet Fitness ( PLNT ) shares rose 4.6% as Jefferies upgraded the company's stock to buy from hold while raising its price target to $100 from $62.

Vista Outdoor ( VSTO ) received a new and unsolicited cash offer from a private equity firm for its shooting sports division, while its board rejected a sweetened takeover offer from MNC Capital Partners. Vista shares eased 0.1%.