Consumer stocks were mixed late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 1.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.4%.

In corporate news, Paramount Skydance (PSKY) is expected to get the approval of EU antitrust regulators for its deal to buy Warner Bros. Discovery (WBD) with relative ease, Reuters reported. Netflix (NFLX) has abandoned its plan to buy Warner, handing the deal to Paramount, but still walking away with a $2.8 billion breakup fee, according to the streaming giant's statement Thursday. Netflix shares jumped 13%, Warner was down 2.1%, and Paramount climbed 19%.

Hasbro (HAS) on Friday sued the US government to recover tariff payments made under President Donald Trump's emergency trade measures, which were deemed illegal by the US Supreme Court last week, Reuters reported, citing court documents. Hasbro shares were down 0.8%.

Ford Motor (F) attorney Mark Freedlander said three of the four businesses that First Brands plans to sell in the coming weeks produce parts for the carmaker, Bloomberg reported, citing his comments at a bankruptcy hearing. Ford shares were shedding 2.5%.

GoPro (GPRO) said Thursday that the US International Trade Commission has upheld a July 2025 ruling in a patent infringement case against Insta360 and issued orders prohibiting further importation of certain Insta360 products. GoPro shares climbed past 10%.