03:56 PM EDT, 09/05/2024 (MT Newswires) -- Consumer stocks were mixed late Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) decreasing 0.5% and the Consumer Discretionary Select Sector SPDR Fund (XLY) rising 0.8%.

In corporate news, the UK's Competition and Markets Authority launched a probe into Live Nation's (LYV) Ticketmaster over its handling of ticket sales for Oasis' upcoming reunion tour. Live Nation shares were falling almost 1%.

Nio (NIO) shares jumped past 13%. The company's Q2 loss narrowed from a year ago while revenue nearly doubled on the back of a sharp increase in vehicle deliveries.

Eastside Distilling ( EAST ) shares surged over 92%. The company said late Wednesday it struck a deal to merge with mortgage technology company Beeline Financial.

Verizon (VZ) agreed to buy Frontier (FYBR) in an all-cash deal worth about $20 billion to boost its fiber network. Verizon shares were down 0.6%, and Frontier was falling 9.1%.