09:11 AM EDT, 08/15/2024 (MT Newswires) -- Consumer stocks rose in Thursday's pre-bell hours with the Consumer Staples Select Sector SPDR Fund ( XLP ) up 1.3% and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) 1.5% higher recently.

Walmart ( WMT ) shares were up over 8% after the company posted higher fiscal Q2 revenue and raised its fiscal 2025 adjusted earnings guidance.

Nike ( NKE ) shares were nearly 5% higher after billionaire investor William Ackman's Pershing Square Capital Management disclosed a new investment in the sportswear company.

Alibaba Group Holding ( BABA ) shares were over 1% lower after it reported fiscal Q1 adjusted earnings of 16.44 renminbi ($2.30) per diluted American depositary share, down from 17.37 renminbi a year earlier.