03:57 PM EDT, 08/02/2024 (MT Newswires) -- Consumer stocks were mixed late Friday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) adding 0.6% and the Consumer Discretionary Select Sector SPDR Fund (XLY) falling 3.9%.

In corporate news, Cumulus Media ( CMLS ) shares sank 18% after the company's Q2 loss widened more than expected.

Lululemon Athletica ( LULU ) shares dropped 5%. Goldman Sachs downgraded the company's rating to neutral from buy and slashed its price target to $286 from $463. BNP Paribas Exane cut its price target on the company to $194 from $232.

Coca-Cola (KO) shares added 1.8%. The company said Friday it will appeal the US Tax Court decision in the ongoing case over a tax liability between the company and the Internal Revenue Service.

Stellantis ( STLA ) shares were down 1.4%. The company is facing an upgraded probe by the US National Highway Traffic Safety Administration into door locks and windows on Dodge Journey vehicles, agency documents showed.