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Sector Update: Consumer Stocks Decline Late Afternoon

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Consumer stocks were falling late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) shedding 0.9% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) dropping 1.6%.

In corporate news, Netflix's (NFLX) Q2 revenue fell short of Wall Street's estimates, while the streaming giant said it will no longer publish its engagement report semi-annually. Its shares fell 7.4%.

Walmart's (WMT) chief operating officer for its US operations, Kieran Shanahan, is leaving the role, with COO for Walmart International, Kyle Kinnard, taking over effective immediately, Walmart said Friday. Walmart shares were down 0.4%.

Autoliv's (ALV) Q2 revenue topped expectations, though earnings fell short amid higher raw material costs. Autoliv shares were down 3.5%.

Electronic Arts (EA) is expected to receive European Union approval under the bloc's foreign subsidy rules for its proposed $55 billion acquisition by an investor group led by Saudi Arabia's Public Investment Fund, Reuters reported. Electronic Arts shares added 0.5%.

A federal judge in California said Friday she would rule by July 22 on a dozen states' request to at least temporarily block Paramount Skydance's (PSKY) takeover of Warner Bros. Discovery (WBD), Bloomberg reported. Paramount shares were down 4.7%, and Warner shed 1.5%.

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Sector Update: Energy Stocks Rise Late Afternoon

Energy stocks were higher late Thursday afternoon, with the NYSE Energy Sector Index increasing 0.5% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.8%.The Philadelphia Oil Service Sector Index was down 0.5%, and the Dow Jones US Utilities Index was fractionally higher.Front-month West Texas Intermediate crude oil shed 0.8% to $78.98 a barrel, and the global benchmark Brent crude contract decreased 0.8% to $84.27 a barrel. Henry Hub natural gas futures fell 1.2% to $2.89 per 1 million BTU.In sector news, US natural gas stocks rose by 41 billion cubic feet in the week ended July 10, above the 39 billion increase expected in a survey compiled by Bloomberg and following an increase of 61 billion cubic feet in the previous week.In corporate news, Excelerate Energy (EE) shares rose 2.2% after Goldman Sachs initiated coverage of the stock with a buy rating and a $49 price target.Chevron (CVX) is expected to sign accords with Iraq on Friday that will further the company's negotiations about investing in large oil fields, Bloomberg reported Thursday, citing a senior company executive. Chevron shares were up 1.1%.Constellation Energy's (CEG) venture arm made an equity investment in Blue Energy, a developer of prefabricated nuclear power plants, for an undisclosed amount. Constellation shares were down 2.9%.TotalEnergies (TTE) expects Q2 hydrocarbon production to be nearly 2.4 million barrels of oil equivalent per day, supported by about 4% organic growth, the company said Thursday. Its shares were shedding 1.9%.

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Sector Update: Financial Stocks Edge Higher Late Afternoon

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