09:15 AM EDT, 07/03/2025 (MT Newswires) -- Consumer stocks were flat to higher premarket Thursday with the Consumer Staples Select Sector SPDR Fund ( XLP ) inactive and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) up 0.3% recently.

Alibaba Group Holding ( BABA ) shares were down more than 2% after the company said it plans to issue approximately 12 billion Hong Kong Dollars ($1.53 billion) in zero-coupon exchangeable bonds due 2032 tied to Alibaba Health shares listed on the Hong Kong Stock Exchange.

TripAdvisor ( TRIP ) investor Starboard Value has built a 9% stake in the company, The Wall Street Journal reported, citing unnamed people familiar with the matter. Shares of TripAdvisor ( TRIP ) were up more than 8% pre-bell.

Franklin Covey ( FC ) shares were down more than 10% after the company reported that it swung to a fiscal Q3 loss as revenue declined during the period. The company also cut its fiscal 2025 revenue guidance.