08:56 AM EDT, 03/11/2026 (MT Newswires) -- Consumer stocks were leaning lower pre-bell Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) declining by 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.1%.

Starboard Value has taken a roughly $350 million stake in CarMax ( KMX ) and nominated two directors to the used-car retailer's board, urging improvements to its digital user experience, cost structure and pricing strategy, multiple media outlets reported, citing unnamed people familiar with the matter. Shares of CarMax ( KMX ) were up more than 6% premarket.