Consumer stocks were edging higher late Friday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) fractionally up and the Consumer Discretionary Select Sector SPDR Fund (XLY) adding 0.4%.

In corporate news, MGP Ingredients (MGPI) shares plunged 23%. The company late Thursday reported preliminary Q3 adjusted earnings and revenue that missed analyst expectations and cut its full-year guidance for both earnings and sales.

Acme United (ACU) shares tumbled past 8% after the company reported lower Q3 results year over year.

Netflix (NFLX) shares jumped past 11% following its higher-than-expected Q3 results, with new subscriber count surpassing Wall Street's estimates. Many analysts raised their price targets after the results.

Procter & Gamble's (PG) Q1 earnings topped market estimates while revenue fell short of expectations as the company reiterated its guidance for the ongoing fiscal year. Its shares eased 0.3%.