Top Consumer Stocks
Consumer stocks were mixed shortly before the closing bell with
shares of consumer staples companies in the S&P 500 holding on
to a 0.1% advance. Shares of consumer discretionary firms in the
S&P 500 were down about 0.4%.
In company news, investors were tuning in on Dish Network (
) and DirectTV (
) Wednesday following reports DISH Board Chairman Charlie Ergen
recently approached DTV Chief Executive Mike White about a
DTV and DISH were not responding to the news, first reported by
Bloomberg, which wrote White was "reluctant to push forward with
formal talks out of concern regulators may block the deal" because
they directly compete with the other.
Industry watchers were saying a potential tie-up could better
position the two satellite companies to take on cable television
providers, including the $45 billion combination of Comcast (
) with Time-Warner Cable (
) announced last month.
DTV shares were ahead nearly 7% in late trade at $78.14 each
while DISH earlier rallied to a 13-year high at $63.98 a share, up
9.5%. CMCSA and TWC shares also were narrowly higher today.
In other sector news,
(+) SCS, Nears new 52-week high after adjusted Q4 earnings by
$0.01 per share. Net sales rise 8% year over year to $779.4
million, topping analyst estimates by $5.4 mln. Projects 7% to 11%
rise in Q1 revenue, topping Street view by at least $15 mln.
(-) BODY, Issues going-concern warning after reporting Q4 loss
of $0.74 per share, ex items, $0.46 wider than estimates. Revenue
declines 18.3% from the same quarter last year to $66.2 mln,
missing consensus by $8.77 mln.
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.