Consumer stocks leaned lower premarket Friday as the Consumer Staples Select Sector SPDR Fund (XLP) fell by 0.4% and the Consumer Discretionary Select Sector SPDR Fund (XLY) was recently down 3.6%.
Alibaba Group Holding (BABA) shares declined by 8% and JD.com (JD) shares fell by over 8% in premarket activity after China vowed to impose an additional 34% tariff on all imported US goods, effective April 10.
Guess? (GES) shares fell nearly 3% after the company reported a decline in Q4 adjusted non-GAAP earnings. The company also projected a wider fiscal Q1 adjusted non-GAAP EPS loss than analysts' estimates.
Bunge Global (BG) said its Bunge Limited Finance further extended the expiration of its previously announced offers to exchange outstanding 2% notes due 2026, 4.9% notes due 2027, 3.2% notes due 2031, and 5.25% notes due 2032 issued by Viterra Finance. Bunge Global shares were down more than 2% premarket.
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