Consumer Stocks Mixed in Late Trade; Short-Seller Said Eying Safeway, Sending Shares Slumping

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Consumer stocks are ending mixed with shares of consumer staples companies in the S&P 500 slipping 0.1% while shares of consumer discretionary firms in the S&P 500 are up nearly 1.2%.

In company news, Safeway ( SWY ) is down 3.2% at $32.92 a share, climbing nearly $1.50 off its worst levels of the session with the grocery chain dogged by rumors an activist investor has a negative outlook on the company.

Shares also were pressured today following reports SWY has begun talks with several unions representing its employees with simmering worries over a potential strike.

In other sector news,

(+) GRPN, Acquires Korean ecommerce company Ticket Monster for $100 mln in cash and $160 mln in stock. Q3 EPS of $0.02, ex items, meets estimates but revenue lags by 3.4%. Guides Q4 earnings, revenue in-line with Street view.

(-) TRMR, Posts Q3 revenue and adjusted EPS that missed Wall Street expectations. It also provided downside guidance for Q4 and FY13, forecasting revenue trailing analyst estimates by at least $8.05 mln and $10.01 mln, respectively.

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: SWY

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