Sector Update: Consumer Stocks Flat to Higher Premarket Wednesday

MT Newswires Live12-11

Consumer stocks were flat to higher premarket Wednesday, with The Consumer Staples Select Sector SPDR Fund (XLP) inactive and The Consumer Discretionary Select Sector SPDR Fund (XLY) up 0.8%.

Macy's (M) shares were down 11% after the company reported lower fiscal Q3 adjusted earnings and revenue in addition to cutting its fiscal 2024 non-GAAP net income outlook.

Dave & Buster's Entertainment (PLAY) stock was more than 13% lower after the company reported a swing to a fiscal Q3 adjusted loss as revenue fell during the period.

PDD Holdings (PDD) executives are being pressed by China's top markets watchdog to fix the online retailing platforms' refunds policy, Bloomberg reported, citing people familiar with the matter. PDD Holdings shares were more than 2% lower pre-bell.

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