03:48 PM EDT, 04/10/2024 (MT Newswires) -- Consumer stocks fell late Wednesday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.3% and the Consumer Discretionary Select Sector SPDR Fund (XLY) dropping 1.5%.

In corporate news, Macy's (M) elected two independent directors nominated by activist shareholder Arkhouse Management, ending a proxy battle as the parties continue to engage over a potential acquisition of the department store operator. Macy's shares rose 1.5%.

Ebay ( EBAY ) said Wednesday it signed definitive agreements for a series of transactions with PSA, an authentication and grading provider for collectibles, and its parent company Collectors. Ebay ( EBAY ) shares gained 0.7%.

Delta Air Lines ( DAL ) reported Q1 results above market estimates, buoyed by robust travel demand, which the carrier continues to see in the current three-month period. Its shares fell 2.2%.

Three Paramount (PARA) directors are expected to leave the board soon as the company continues to discuss a potential merger with Skydance Media, The Wall Street Journal reported. Paramount shares shed 3.2%.