Consumer Cos Down as Oil Fears Offset Deal Activity — Consumer Roundup

Consumer companies fell as oil fears offset deal activity.

Barry Diller's People Inc., the billionaire's holding company formerly known as IAC Interactive, has offered to take over the part of casino chain MGM Resorts it doesn't already own in a deal that would value it at around $12.4 billion.

Investment conglomerate Berkshire Hathaway agreed to buy home builder Taylor Morrison Home for $6.8 billion in cash.

Investment firm Castlelake said any offer for easyJet would value the airline at least at $4.12 billion, slightly above the last closing price for an airline whose valuation has slumped during the Iran conflict.

Rival discount airline JetBlue said it was seeing strong demand across all geographies, particularly for close-in travel and routes previously operated by Spirit following the budget airline's liquidation. Still, one strategist said the retail and travel sector would continue to see bifurcated, "k-shaped" fortunes.

"The high-end consumer is flush, with their net worth at all-time record highs, so a little bit higher fuel costs is probably not going to cause too much concern," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management. "It's a more vulnerable state at the lower side, and every incremental change to the upside [on gas] is going to be harmful."

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

June 01, 2026 17:57 ET (21:57 GMT)