Consumer stocks declined late Friday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) falling 1.3% and the Consumer Discretionary Select Sector SPDR Fund (XLY) dropping 1%.

In corporate news, Capri's (CPRI) Versace brand is being considered as a possible acquisition by Italian luxury retailer Prada, Italian newspaper Il Sole 24 reported. Capri shares jumped past 10%.

TKO-owned (TKO) Ultimate Fighting Championship is aiming to get more than $1 billion a year from its next media rights deal with Walt Disney's (DIS) ESPN, Bloomberg reported Friday. TKO and Disney shares were each down about 1.3%.

Constellation Brands (STZ) on Friday lowered its annual sales outlook after its fiscal Q3 results missed Wall Street's expectations. Its shares fell past 16%.

Delta Air Lines (DAL) reported better-than-expected Q4 results on Friday amid robust travel demand while the carrier said it expects full-year earnings growth of over 10%. Its shares spiked past 8%.