Consumer stocks held on to most of their earlier advance, with the SPDR Consumer Staples Select Sector ETF climbing 0.6% while the SPDR Consumer Discretionary Select Sector ETF was rising 1.2%.
In company news, Tencent Music Entertainment Group (TME) was 1.5% higher shortly before Monday's closing bell, bouncing back from a mid-morning slump, after the China-based online music entertainment platform disclosed plans to issue one or more tranches of senior unsecured notes. Net proceeds would be used for general corporate purposes, the company said.
Barnes & Noble Education (BNED) was 1.5% higher, overcoming an early 3.5% decline, after the educational publisher Monday said it has finished a review of its strategic options and that its board of directors has decided to continue with the company's current business plan.
Foot Locker (FL) rose 5.4% despite a pair of conflicting analyst actions on Monday for the athletic apparel retailer, with Morgan Stanley raising its price target by $2 to $32 a share while Deutsche Bank trimmed its price target by $2 to $33 a share. The Morgan Stanley and Deutsche Bank analysts also reiterated their equal weight and hold stock ratings, respectively.
MOGU (MOGU) dropped 19% after the Chinese e-commerce company reported a year-over-year drop in fiscal Q1 revenue, falling to RMB132.5 million from RMB248.9 million during the same April-to-June quarter last year. Analyst estimates were not available.
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