Sector Update: Consumer Shares Flat Pre-Market; Mattel to Buy MEGA Brands


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Top Consumer Shares:

WMT: flat

MCD: flat

DIS: +0.52%

CVS: flat

KO: -0.03%

GE: -0.04%

Consumer shares were mixed in pre-market trade Friday.

In consumer sector news, toy maker Mattel, Inc. ( MAT ) has agreed to buy its Canadian counterpart MEGA Brands Inc. (MB.TO) in a $460 million deal, including debt. MEGA Brands shareholders holding approximately 39% of MB.TO common shares have agreed to vote in favor of the transaction.

Mattel says the acquisition allows it to expand into the US$4-billion construction building sets and US$2-billion arts and crafts categories.

And, PharMerica ( PMC ) was up 2.8% after it reported Q4 earnings of $0.44 per share, which beat the Street view of $0.40 per share. Revenue was $450, also beating the Street view.

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

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This article appears in: Investing , Commodities
More Headlines for: MAT , PMC

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