01:45 PM EDT, 10/02/2024 (MT Newswires) -- Consumer stocks were in the red Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) falling 0.9% and the Consumer Discretionary Select Sector SPDR Fund (XLY) down 1% recently.

In corporate news, Nike ( NKE ) shares tumbled past 6% as it withdrew its full-year guidance and postponed its investor day following the appointment of a new chief executive last month, while the company's fiscal Q1 results fell year over year.

Tesla (TSLA) posted sequential and annual gains in Q3 deliveries on Wednesday, but Wall Street's whisper numbers had indicated a stronger print. Its shares dropped 4%.

Conagra Brands' ( CAG ) fiscal Q1 results fell year over year and missed Wall Street estimates, impacted by lower volumes and price headwinds. Conagra sank 8.3%.