Sector Update: Consumer Shares Lift Pre-Market; General Mills Aims For Non-Modified Ingredients in Cheerios


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Top Consumer Shares:

WMT: +0.42%

MCD: +0.15%

DIS: flat

CVS: flat

KO: +0.12%

GE: +0.11%

Consumer shares are flat to higher in pre-bell trading today.

In consumer sector news, General Mills ( GIS ) will bid adieu to its genetically modified ingredients in Cheerios, Reuters reported late yesterday. The company has been moving toward the change for about a year.

GIS was up 0.10% in pre-market trade.

And, Jamba, Inc. ( JMBA ) was down 2.76% at $12.00 in pre-market trading after the company said Friday it entered into a master franchise development agreement to open Jamba Juice stores in the Middle East.

JMBA signed the agreement with Foodmark, the Food and Beverage division of Landmark Group, to develop 80 Jamba Juice stores across the Middle East region over the next ten years. The company expects to open the first Jamba Juice store in Dubai in 2014.

Separately, Jamba was downgraded to Neutral from Outperform at Wedbush. The firm lowered the price target for shares to $13 from $15.

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: GIS , JMBA

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