Consumer stocks were mixed pre-bell Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) 0.2% higher and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) marginally declining.

Philip Morris International (PM) shares were down more than 1% after the company issued Q3 adjusted EPS outlook below analysts' expectations and cut its 2026 adjusted EPS guidance.

Cal-Maine Foods (CALM) stock was down more than 7% after the company reported that it swung to a fiscal Q4 loss as net sales fell during the period.

Nike (NKE), facing flagging revenue in China, will in January halt online sales of company products on certain retailer and wholesaler platforms, and bring internet sales and marketing in-house, Reuters reported. Nike shares were 1% lower premarket.