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Sector Update: Consumer Stocks Lean Lower Premarket Thursday

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Consumer stocks were leaning lower premarket Thursday, with the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 1.1% and the State Street Consumer Staples Select Sector SPDR ETF (XLP) declining by 1.3%.

Walmart (WMT) shares were down more than 7% after the company issued fiscal Q3 adjusted earnings per share outlook below analysts' expectations, while its updated fiscal 2027 adjusted EPS guidance still undershot consensus.

Alibaba Group (BABA) stock was down more than 5% after the company posted a decline in fiscal Q1 non-GAAP earnings, also missing analysts' consensus.

Youdao (DAO) shares were up more than 5% after the company reported higher Q2 non-GAAP net income and net revenue.

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Sector Update: Consumer Stocks Lean Lower Premarket Thursday | FINWIRES