Consumer Sector Update for 04/16/2024: FLUT, SKIL, IP, XLP, XLY

Consumer stocks were declining pre-bell Tuesday as the Consumer Staples Select Sector SPDR Fund (XLP) was down 0.1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) was 0.4% lower recently.

Flutter Entertainment (FLUT) was up more than 1% after it launched an offering of $1.05 billion of US dollar-denominated senior secured notes due 2029 and euro-denominated senior secured notes due 2029.

Skillsoft (SKIL) declined by over 23% following quarterly results that showed sales fell more than forecast, and its revenue guidance for the full financial year also lagged market expectations.

International Paper (IP) was up 0.6% after saying it reached a deal to acquire packaging company DS Smith in an all-stock deal worth about $9.9 billion.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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