09:14 AM EDT, 10/31/2024 (MT Newswires) -- Consumer stocks were leaning lower premarket Thursday, with The Consumer Discretionary Select Sector SPDR Fund ( XLY ) declining by 0.1% and The Consumer Staples Select Sector SPDR Fund ( XLP ) down 0.2%.

Estee Lauder ( EL ) shares were down nearly 22% after the company withdrew its fiscal 2025 guidance amid "incremental uncertainty on timing of stabilization" in China and Asia travel retail, along with leadership changes. The company also lowered its quarterly dividend.

Anheuser-Busch InBev ( BUD ) stock was more than 3% lower after the company reported lower Q3 revenue that also trailed analysts' forecast.

Booking Holdings ( BKNG ) shares were up nearly 7% after the company reported higher Q3 adjusted earnings and revenue.