Consumer Stocks Mixed; Dish Networks, DirecTV Surge Following Reports of Early Merger Talks


Top Consumer Stocks

WMT -0.51%

MCD +0.02%

DIS -0.54%

CVS +0.44%

KO +0.16%

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 ( DISH ) and DirectTV ( DTV ) Wednesday following reports DISH Board Chairman Charlie Ergen recently approached DTV Chief Executive Mike White about a potential merger.

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 ( CMCSA ) with Time-Warner Cable ( TWC ) 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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: DISH , DTV , CMCSA , TWC

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