Top Consumer Stocks
DIS +1.1%, nearer 52 week highs
Consumer stocks are mixed with shares of consumer staples
companies in the S&P 500 currently little changed while shares
of consumer discretionary firms in the S&P 500 are gaining
In company news, Gaiam (
) is up more than 13% at $6.33 a share, earlier pushing to a
two-year high of $6.74 after agreeing to sell its entertainment
unit to Cinedigm Group (
) for $51.5 million. GAIA will retain its health and fitness media
CIDM is up 7.2% at $1.64 a share and nearer a 52 week high of
$1.73 after today also pricing a public offering of 7.9 million
shares of its common stock at $1.43 apiece, a 6.5% discount to
Thursday's closing price.
The digital media and marketing company granted 30-day options
to underwriters to buy up to 1.18 million additional shares to
cover possible overallotments, which if fully exercised, would
boost gross proceeds to the company to nearly $13 million.
Separately last night, CICM also approved a 43% increase in its
FY14 dividend to $2.00 per share.
In other sector news,
(+) LVS, (+2.1%, hit fresh 52 week highs) Q3 earnings of $0.82
per share beat by $0.06. Revenue rises 31.7% year over year to
$3.57 bln, also topping estimates by around $10 mln. vs the $3.47
bln consensus; consolidated adj. property EBITDA increased 45.5% to
(-) ZA, (-13.8%) Chinese men's apparel company says it is
company policy not to comment on unusual market activity. The
statement follows several days of up-and-down trade, with shares
rising 46% on Wednesday before sliding a combined 23% the past two
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.