09:12 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.

Target ( TGT ) shares were down 0.6% after the company said it is lowering prices on more than 3,000 apparel, home, baby, food, and beverage products.

Smurfit Westrock ( SW ) plans to invest $5 billion in the U.S. over the next five years as part of a broader $6.1 billion investment push by Irish companies ahead of Prime Minister Micheal Martin's upcoming visit to the White House, The Wall Street Journal reported. Smurfit Westrock ( SW ) stock was down 0.3% pre-bell.