09:10 AM EDT, 10/14/2024 (MT Newswires) -- Consumer stocks were edging higher pre-bell Monday as the Consumer Staples Select Sector SPDR Fund ( XLP ) and Consumer Discretionary Select Sector SPDR Fund ( XLY ) were recently up 0.2%.

Vera Bradley ( VRA ) shares were up over 1% after the company said it secured approval from its board to adopt a limited duration rights plan through Oct. 11, 2025, to protect shareholders' interests and maximize investor value.

Alibaba Group ( BABA ) and Baidu ( BIDU ) are backing the Hong Kong initial public offering of Horizon Robotics and have agreed to subscribe for a portion of $220 million in shares, alongside a Ningbo government fund and France's CMA CGM, Bloomberg reported, citing people familiar with the matter. Alibaba Group ( BABA ) was down more than 1% pre-bell.