04:03 PM EDT, 09/03/2024 (MT Newswires) -- Consumer stocks were mixed late Tuesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) up 0.5% and the Consumer Discretionary Select Sector SPDR Fund (XLY) falling 1.5%.

In corporate news, FedEx ( FDX ) is likely to post fiscal Q1 results below consensus views later this month due to misses in its ground and express businesses, Morgan Stanley said. FedEx ( FDX ) shares were falling 2%.

Elliott Investment Management now holds 10% of Southwest Airlines' ( LUV ) common stock, enough for it to call a special shareholder meeting, Reuters reported Tuesday. Southwest ( LUV ) shares gained 1.9%.

Constellation Brands ( STZ ) lowered its reported fiscal 2025 EPS guidance to a range of $3.05 to $7.92 from the previous guidance of $14.63 to $14.93, while raising the lower end of its comparable EPS forecast. Its shares rose 2.2%.