03:38 PM EDT, 07/22/2026 (MT Newswires) -- Consumer stocks were mixed late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.8%.

In corporate news, Paramount Skydance ( PSKY ) won conditional approval from the European Commission for its acquisition of Warner Bros. Discovery ( WBD ) . Paramount shares rose 2.5%, and Warner gained 0.3%.

Uber ( UBER ) and Lyft ( LYFT ) were granted a preliminary injunction by US District Judge Gregory Woods, blocking a recently enacted New York City law protecting ride-share drivers from "wrongful deactivations." Uber ( UBER ) shares fell 2%, and Lyft ( LYFT ) slumped 4.2%.

Alaska Air ( ALK ) shares fell 3% after the airline issued a Q3 earnings outlook below market estimates and swung to a Q2 loss as higher fuel costs weighed on results.

Philip Morris International ( PM ) reported better-than-expected Q2 results and reiterated its full-year outlook. The shares climbed 3.3%.