01:36 PM EDT, 04/05/2024 (MT Newswires) -- Consumer stocks rose Friday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) climbing 1%.

In corporate news, Paramount (PARA) would continue to trade publicly under an offer made by Skydance Media, CNBC reported. Under the terms of the deal, Skydance would either own a substantial minority stake or a majority stake in Paramount. Paramount shares dropped 2.3%.

Procter & Gamble ( PG ) started a voluntary recall of 8.2 million defective bags of Tide, Gain, Ace and Ariel laundry detergent packets distributed in the US due to risk of serious injury. The defective bags can split open near the zipper track, posing injury risk to people if the contents are ingested. The company's shares still rose 0.7%.

Mobile Global Esports ( MGAM ) shares tumbled 6.6% after the company said Friday that Chairman Marco Welch resigned on Thursday "for personal reasons."