Sector Update: Consumer Stocks Mixed Late Afternoon

03:51 PM EDT, 10/14/2026 (MT Newswires) -- Consumer stocks were mixed late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.8% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) falling 1.1%. In corporate news, Netflix (NFLX) is cutting 6% of its global staff, or about 1,000 positions, The Wall Street Journal reported Wednesday, citing an internal email. This latest round of layoffs, its largest since 2022, mainly affects the product, tech, legal and human-resources teams, the report said, citing Co-Chief Executives Greg Peters and Ted Sarandos as saying in an email to employees. Shares eased 0.1%. Kimberly-Clark (KMB) has received European Commission approval to buy Kenvue (KVUE), subject to the sale of its Kotex and other feminine hygiene brands in the European Economic Area, the Commission said. Kimberly-Clark shares rose 0.8%. GEN Restaurant (GENK) shares surged 16% after signing a binding letter of intent with Chubby Group to sell operations at 47 US restaurants while retaining the GEN brand and the GEN CPG business for $100 million. Texas Roadhouse (TXRH) was up 2% after Jefferies upgraded the stock to buy from hold, with a price target of $190.