Sector Update: Consumer Shares Flat to Higher Pre-Market; Toyota Down 1% on Recalls

By Staff,

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Top Consumer Shares:

WMT: flat

MCD: +0.54%

DIS: +0.60%

CVS: flat

KO: +0.21%

GE: +0.35%

Consumer shares were generally flat to higher in pre-market trade Wednesday.

In consumer sector news, General Motors ( GM ) was downgraded by Morgan Stanley to Underweight from Equalweight, pushing shares off more than 2% in pre-market.

And, Science technology company Senomyx ( SNMX ) said it is teaming up with PepsiCo ( PEP ) to research new salt flavor modifiers.

PepsiCo will provide research funding for the salt taste program for 2014 and has options to extend the research funding period. Financial terms of the agreement have not been disclosed.

SNMX was flat in pre-market trading on Wednesday and closed at $10.21 Tuesday regular hours. PEP was flat at $83.47.

Finally, The American Depositary Shares of Toyota Motor ( TM ) slipped 1% in recent pre-market trading on Wednesday, following several media reports that the carmaker is once again recalling 6.4 million vehicles due to faults in parts.

The faults were discovered in 27 models, including RAV4, Yaris, Pontiac Vibe, and Subaru Trezia. Although the company said it isn't aware of any reported accidents caused by the technical issue.

TM ADRs closed at $109.10 Tuesday regular hours.

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: GM , SNMX , PEP , TM

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