01:48 PM EDT, 08/23/2024 (MT Newswires) -- Consumer stocks were mixed Friday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) shedding 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) rising 1.5%.

In corporate news, Purple Innovation ( PRPL ) shares popped 5.7% Friday, a day after the company said it's streamlining its operations to help reach a positive operating cash flow.

CAVA (CAVA) shares jumped 21% 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 0.8%.