01:34 PM EDT, 07/22/2026 (MT Newswires) -- Consumer stocks were mixed Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.6%.

In corporate news, Alaska Air ( ALK ) shares fell 4.5% 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 rose 3%.

AT&T's ( T ) Q2 earnings beat Wall Street's estimates on stronger-than-expected growth in wireless subscribers. The stock rose 2.7%.