09:06 AM EST, 12/16/2024 (MT Newswires) -- Consumer shares were advancing pre-bell Monday with the Consumer Staples Select Sector SPDR Fund ( XLP ) up 0.2% and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) 0.4% higher recently.

Alibaba Group Holding ( BABA ) is nearing an agreement to sell its department store business Intime to Youngor Fashion for roughly $1 billion, Bloomberg reported Monday, citing unnamed sources familiar with the plan. Alibaba ( BABA ) shares were down 1.9%.

Procter & Gamble ( PG ) promised a group of shareholders it would disclose more details on its audit practices for wood pulp suppliers, Reuters reported Monday, citing the investors. The company's shares were up 0.3%.

Starbucks ( SBUX ) will increase paid parental leave for US store employees working at least 20 hours per week, according to a website message from the company's Chief Executive Brian Niccol on Monday. The company's shares were marginally higher.