01:52 PM EDT, 05/28/2024 (MT Newswires) -- Consumer stocks fell Tuesday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) down 1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) shedding 0.4%.

In corporate news, T-Mobile (TMUS) agreed to buy most of US Cellular's (USM) wireless operations for $4.4 billion in cash and assumed debt. T-Mobile shares rose 0.5%, and US Cellular shares climbed past 7%.

DraftKings ( DKNG ) and FanDuel parent company Flutter Entertainment ( FLUT ) shares dropped in recent Tuesday trading after the Illinois Senate passed a bill to raise sports betting taxes. DraftKings ( DKNG ) tumbled nearly 11% and Flutter fell 7.2%.

Campbell Soup ( CPB ) said Tuesday it will close its Tualatin, Oregon plant in phases starting August and reduce the size of the Jeffersonville, Indiana facility in July, impacting a total of 415 employees. Its shares were sliding 2.2%.