03:49 PM EDT, 08/23/2024 (MT Newswires) -- Consumer stocks rose late Friday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) up 0.1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) adding 1.9%.

In corporate news, Red Robin Gourmet Burgers ( RRGB ) shares tumbled 9.2%, a day after the company reported a wider Q2 loss.

Purple Innovation ( PRPL ) shares popped 6.5% Friday, a day after the company said it is streamlining operations to help reach a positive operating cash flow.

CAVA (CAVA) shares jumped nearly 20% after the company overnight reported stronger-than-expected fiscal Q2 results and raised its guidance for same-restaurant sales growth.

Paramount Global ( PARAA ) was accused by Skydance Media of breaching the terms of its deal following the extension of Paramount's "go shop" period, The Wall Street Journal reported Thursday. Paramount shares were rising 2%.