Walt Disney (DIS) started a third round of layoffs, which may reach more than 2,500 employees, Deadline Hollywood reported, citing unnamed sources. Lowe's (LOW) cut its full-year outlook on higher-than-expected lumber deflation and softening demand for discretionary sales, even though the home improvement retailer's fiscal Q1 results topped market estimates. Consumer stocks were declining late Tuesday, with the Consumer Staples Select Sector SPDR Fund (XLP) shedding 0.7% and the Consumer Discretionary Select Sector SPDR Fund (XLY) down 0.8%.