01:45 PM EDT, 05/15/2026 (MT Newswires) -- Consumer stocks were lower Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) falling 1.5%.

In corporate news, Starbucks ( SBUX ) said it will cut 300 US support jobs as the coffee giant consolidates regional offices to reduce costs and streamline operations. Its shares were down 0.2%.

Magnum Ice Cream ( MICC ) shares jumped past 10% after Reuters reported that Blackstone (BX) and Clayton, Dubilier & Rice are in the early stages of considering bids for the company.

Diageo ( DEO ) will integrate its Africa and Europe operations into a single division amid an overhaul including major leadership changes, Bloomberg reported. Diageo ( DEO ) shares rose 1.7%.