09:15 AM EDT, 08/09/2024 (MT Newswires) -- Consumer stocks were declining premarket Friday as the Consumer Staples Select Sector SPDR Fund ( XLP ) was 0.1% lower and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) was recently down 0.2%.

e.l.f. Beauty (ELF) shares fell by over 8% after saying it now expects fiscal 2025 adjusted earnings per share of $3.36 to $3.41, short of the $3.42 estimate from analysts surveyed by Capital IQ.

Perrigo ( PRGO ) shares were down more than 2% after saying it is voluntarily recalling 16,500 cans of store-brand Premium Infant Formula with iron milk-based powder due to elevated levels of vitamin D.

Paramount Global ( PARAA ) shares were up more than 4% after it reported Q2 adjusted diluted earnings of $0.54 per share, up from $0.10 a year earlier.