Consumer stocks were mixed late Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.4% and the Consumer Discretionary Select Sector SPDR Fund (XLY) down 0.1%.

In corporate news, VF (VFC) said Wednesday that it expects its fiscal Q4 revenue to drop year over year even as the apparel and footwear company's Q3 results unexpectedly increased. Its shares fell 3.7%.

Fox (FOX) has sold at least 10 of the commercials that would appear during the Super Bowl LIX telecast on Feb. 9 at a higher price, Variety reported. The company charged more than $8 million for 30 seconds of Super Bowl ad time -- reportedly a new high. Fox shares rose 0.1%.

Brinker International (EAT) shares surged nearly 16% after the company boosted fiscal 2025 guidance after reporting stronger-than-expected Q2 results.

Bankrupt budget carrier Spirit Airlines rejected a fresh merger offer from Frontier (ULCC), saying the proposed terms were "woefully insufficient." Frontier shares rose 5%.