03:54 PM EDT, 04/30/2025 (MT Newswires) -- Consumer stocks were mixed late Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) adding 1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) falling 1%.

In corporate news, Newell Brands ( NWL ) shares dropped past 6%. The firm issued a downbeat Q2 earnings outlook and downgraded its full-year core sales guidance, citing a challenging macroeconomic backdrop.

Rivian Automotive ( RIVN ) quietly built up a reserve of electric-vehicle batteries from Asia ahead of President Donald Trump's tariffs, Bloomberg reported Wednesday. Rivian shares rose 3.7%.

Starbucks ( SBUX ) fiscal Q2 earnings declined more than market expectations amid a challenging consumer environment. The shares fell nearly 6%.

Yum Brands' ( YUM ) Q1 results rose year over year but sales fell short of market estimates, while the KFC ( YUM ) and Taco Bell parent expects tariffs to have an immaterial impact on its system-wide supply chain. Its shares rose 1.9%.