01:56 PM EDT, 07/19/2024 (MT Newswires) -- Consumer stocks fell Friday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) shedding 0.4% and the Consumer Discretionary Select Sector SPDR Fund (XLY) dropping 1%.

In corporate news, Netflix ( NFLX ) reported stronger-than-expected Q2 results late Thursday as the streaming giant's membership growth exceeded Wall Street's expectations. The shares still fell 1.9%.

Wolverine World Wide ( WWW ) shares jumped 8.3% as UBS upgraded the stock to buy from neutral and raised its price target to $20 from $13.

Scholastic (SCHL) slumped 18%, a day after the company reported lower fiscal Q4 earnings, excluding one-time items, and revenue.