01:59 PM EDT, 10/21/2024 (MT Newswires) -- Consumer stocks were lower Monday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.7% and the Consumer Discretionary Select Sector SPDR Fund (XLY) sliding 0.8%.

In corporate news, Walt Disney ( DIS ) said Monday it appointed current Morgan Stanley (MS) Executive Chairman James Gorman as its board chair, and that it will announce Chief Executive Bob Iger's replacement in early 2026. Disney ( DIS ) shares fell 1.1% in recent trading.

Mondelez ( MDLZ ) on Monday sold its stake in Dutch coffee maker JDE Peet's to investment firm JAB in a deal worth 2.16 billion euros ($2.34 billion). Mondelez ( MDLZ ) shares were down 1.3%.

PLBY Group ( PLBY ) shares jumped nearly 15%. The company received interest from Cooper Hefner-led Hefner Capital regarding an acquisition of the Playboy brand, Bloomberg reported.