Consumer Stocks Mixed; Gaiam Hits Two Yr Highs, CIDM Up 7% After Deal

By Staff,

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Top Consumer Stocks

WMT -0.2%

MCD -0.3%

DIS +1.1%, nearer 52 week highs

CVS +1.75%

KO flat

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 nearly 0.7%.

In company news, Gaiam ( GAIA ) 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 ( CIDM ) for $51.5 million. GAIA will retain its health and fitness media business.

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 $1.28 bln.

(-) 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 days.

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

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

This article appears in: Investing Commodities
Referenced Stocks: CIDM , GAIA

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