09:12 AM EDT, 09/18/2024 (MT Newswires) -- Consumer stocks were edging higher pre-bell Wednesday as the Consumer Staples Select Sector SPDR Fund ( XLP ) advanced by 0.1% and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) was up 0.2% recently.

General Mills ( GIS ) shares declined by almost 3% after the company reported lower fiscal Q1 adjusted earnings and net sales.

Mondee Holdings ( MOND ) shares were up about 2% after the company said it got a $15 million letter of credit from Morgan Stanley ( MS ) , which was a condition to extensions to its term loan and preferred equity.

Arko ( ARKO ) plans to sell its convenience store operations in a deal potentially valued at about $2 billion as a shift away from expansion due to slowing sales, Reuters reported, citing sources. Arko ( ARKO ) shares were up over 1% premarket.