Sector Update: Consumer Shares Flat Pre-Market; GE Rallies 1% on $2.7 Bln in Contracts

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Top Consumer Shares:

WMT: flat

MCD: -0.12%

DIS: flat

CVS: flat

KO: -0.76%

GE: +0.83%

Consumer shares are fairly flat in pre-bell trading today.

GE ( GE ) shares are up about 1% after it signed three contracts totaling approximately $2.7 billion with SPE, an affiliate of Sonelgaz-Algeria's national electricity and gas company.

GE is to supply proven and reliable heavy-duty gas turbine combined-cycle and aeroderivative gas turbine technology for nine power plants. The addition of nearly nine gigawatts of electricity will help strengthen Algeria's power sector to help meet the growing requirements of the country.

And Potbelly ( PBPB ) will likely price its IPO at between $9 and $11 per share and will sell about 7.5 million shares, meaning it could raise upwards of $82 million.

And, ADT Corp. ( ADT ) says it will offer $1,000,000,000 of senior unsecured notes due 2021.

The company will use the net proceeds from the offering primarily to repay $150 million in borrowings under its revolving credit facility, repurchase outstanding shares of its common stock and for other general corporate purposes, including acquisitions.

ADT closed at $42.32 with a 52-week range of $34.68 - $50.37.



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 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: ADT , GE , PBPB

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