03:51 PM EDT, 06/12/2025 (MT Newswires) -- Consumer stocks were mixed late Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) adding 0.4% and the Consumer Discretionary Select Sector SPDR Fund (XLY) shedding 0.5%.

In sector news, 11 US states, led by California, have filed a suit in federal court in California against President Donald Trump's decision to repeal California's electric vehicle mandate, Reuters reported. Trump signed three Congress-approved resolutions earlier Thursday, including the termination of the state's EV rule that called for banning the sale of gasoline-powered cars in the state by 2035.

In corporate news, Tesla (TSLA) shares fell 2.2%. On Wednesday, the company filed a lawsuit against former engineer Jay Li and his startup Proception for allegedly stealing trade secrets involving the Optimus project's robotic hand technology.

Omnicom ( OMC ) and Interpublic's (IPG) planned merger may face restrictions from the Federal Trade Commission, including a proposed consent decree that would prevent the combined company from boycotting platforms because of political content, The New York Times reported. Omnicom ( OMC ) shares were down 3.1%, and Interpublic was shedding 0.8%.

Oxford Industries ( OXM ) shares fell past 13% after it reported lower fiscal Q1 adjusted EPS and net sales and cut its fiscal 2025 guidance.

GameStop ( GME ) shares tumbled 23% after it said late Wednesday it plans to offer $1.75 billion of convertible senior notes due 2032 to institutional buyers.