Consumer stocks were rising premarket Tuesday, with the Consumer Staples Select Sector SPDR Fund (XLP) 0.1% higher and the Consumer Discretionary Select Sector SPDR Fund (XLY) up 0.8%.
Gildan Activewear (GIL) is closing in on a deal to acquire Hanesbrands (HBI) at nearly $5 billion including debt, the Financial Times reported, citing people familiar with the matter. Shares of Hanesbrands were up more than 37% and Gildan Activewear stock was down more than 6% pre-bell.
Sea (SE) stock was up more than 14% after the company posted higher Q2 earnings and revenue.
On Holding (ONON) shares were up nearly 17% after the company reported higher Q2 net sales and raised its 2025 net sales outlook.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.