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Sector Update: Consumer Stocks Mixed Late Afternoon

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Consumer stocks were mixed late 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) falling 1%.

In corporate news, FedEx's (FDX) fiscal Q4 earnings may fall short of Wall Street's expectations as margin pressures continue to outweigh stable sales trends, Morgan Stanley said. FedEx shares fell 1%.

Walt Disney (DIS) has started selling Super Bowl LXI commercial time at $8 million for a 30-second spot, Variety reported. Disney shares declined 1.8%.

Ford Motor's (F) total US vehicle sales in May fell 13.6% to 190,828 from a year earlier, the automaker said. The stock fell 2.8%.

Ulta Beauty's (ULTA) limited guidance flow-through from its $0.85 earnings per share beat, along with tougher Q2 to Q4 comparisons, raises questions about the extent of earnings delivery in H2, Morgan Stanley said. Ulta shares dropped 5%.

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