Consumer stocks were mixed pre-bell Tuesday, with the Consumer Staples Select Sector SPDR Fund (XLP) 0.2% lower and the Consumer Discretionary Select Sector SPDR Fund (XLY) was flat.
Estee Lauder (EL) shares were down more than 5% after the company reported lower fiscal Q2 adjusted net earnings and net sales. The company also issued fiscal Q3 outlook for adjusted earnings per share below market expectations. In addition, Estee Lauder said it expects to eliminate 5,800 to 7,000 job roles as part of a restructuring plan.
PepsiCo (PEP) shares declined by more than 2% after the company reported a decline in fiscal Q4 revenue.
Archer-Daniels-Midland (ADM) shares fell by over 2% after the company reported lower Q4 adjusted earnings and revenue.
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