Sector Update: Consumer Stocks Decline Wednesday Afternoon

02:00 PM EDT, 10/28/2026 (MT Newswires) -- Consumer stocks were lower Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.4%. In corporate news, Wendy's (WEN) has received a $1.4 billion acquisition offer from a group led by Trian Fund Management, The Wall Street Journal reported. The Trian-led group has offered to pay $7.35 per share in cash, the report said. Wendy's shares surged past 14%. Brinker International (EAT) raised its full-year forecasts Wednesday following strong sales growth at Chili's Grill & Bar in the fiscal Q1, while Wingstop (WING) lowered its outlook as quarterly same-store sales declined. Brinker shares jumped past 13%, and Wingstop was up 12%. Stellantis (STLA) reaffirmed its full-year revenue guidance after reporting stronger-than-expected top-line for Q3. Its shares climbed 15%.