Consumer stocks were mixed pre-bell Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) 0.2% lower.
Conagra Brands (CAG) shares were down more than 3% after the company posted a decline in fiscal Q1 net sales.
Hormel Foods (HRL) stock was up more than 1% after the company said it signed a definitive deal to acquire Brakebush Brothers, a value-added chicken company, for about $1.06 billion.
Cal-Maine Foods (CALM) shares were down more than 7% after the company reported that it swung to a fiscal Q1 net loss amid lower net sales during the period.
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