Sector Update: Consumer Stocks Decline Pre-Bell Wednesday

MT Newswires Live11-20 22:18

Consumer stocks were leaning lower pre-bell Wednesday with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.7% and the Consumer Discretionary Select Sector SPDR Fund (XLY) 0.2% lower recently.

Target (TGT) shares fell past 15% after the company reported a decline in Q3 adjusted earnings and issued Q4 and 2024 guidance for adjusted earnings per share below analysts' expectations.

Williams-Sonoma (WSM) shares rallied by over 26% after the company reported higher fiscal Q3 non-GAAP earnings. The company also said its board approved in September a new $1 billion stock buyback capacity.

Global-e Online (GLBE) shares advanced by over 11% after the company reported a narrowed Q3 net loss as revenue increased during the period.

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