Consumer stocks were mixed premarket Thursday with the Consumer Staples Select Sector SPDR Fund (XLP) 0.4% higher and the Consumer Discretionary Select Sector SPDR Fund (XLY) down 0.6% recently.
Dick's Sporting Goods (DKS) has agreed to acquire Foot Locker (FL) in a deal that implies an equity value of $2.4 billion and an enterprise value of $2.5 billion, the companies said. Shares of Foot Locker surged past 83%, while shares of Dick's Sporting Goods were over 11% lower pre-bell.
Alibaba Group (BABA) shares were down more than 5% after the company reported fiscal Q4 non-GAAP earnings and revenue that missed analysts' expectations.
Birkenstock Holding (BIRK) shares advanced by 7% after the company reported higher fiscal Q2 adjusted earnings and revenue.
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