Consumer Stocks Mixed Near Close; Chiquita Brands Looks to Raise Up to $500 Mln, Shares Up Slightly


Top Consumer Stocks,

WMT -0.40%

MCD -0.62%

DIS -0.04%

CVS +0.77%

KO -0.64%

Consumer stocks are narrowly mixed near the close today with shares of consumer staple companies in the S&P 500 climbing less than 0.1%. Shares of consumer discretionary stocks in the S&P are down less than 0.1%.

In company news, Chiquita Brands International ( CQB ) is holding on to a 0.4% gain to $12.65 a share, just off its session high of $12.70 after today filing a mixed securities shelf registration for up to $500 million in new securities.

Under the S-3 filing with regulators, the fruit distribution firm can offer from time to time any combination of common and preferred stock, debt securities, stock purchase units, warrants and subscription rights. The preliminary prospectus states the company would use any funds raised from an offering for working capital, capital projects, repaying debt and possible acquisitions.

In other sector news,

(+) JOSB, In a letter to the company's board, BeaconLight Capital LLC rails against apparent lack of independent directors, saying the current board "defers to the Chairman (and former CEO) Robert Wildrick and seems to ignore other stakeholders."

(-) MCOX, Q2 net loss unchanged from last year at $4.2 mln. Net revenues fell 43.5% year over year to $21.0 mln. No analyst estimates available for comparison.

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: CQB

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