Top Consumer Shares:
Consumer shares are lower in pre-bell trading along with the
broader stock market.
ReMax Holdings (
) said it has priced its initial public offering of 10 million
shares at $22.00 per share for approximately $1924.2 million in net
The franchisor of real estate brokerage services said
underwriters have a 30-day option to buy up to 1.5 million
additional shares to cover any overallotments. The sock will start
trading today on the New York Stock Exchange under the symbol
Net proceeds from the share sale will be used to reacquire
franchise rights in select markets, redeem preferred membership
interests and to repurchase ownership stakes from existing
And, a lawsuit over Lululemon's (
) sheer pants defects includes a Louisiana pension fund that is
leading U.S. litigation accusing the company of hiding defects,
LULU is down 1% at $73.09 in pre-market trade, trading in a
52-week range of $59.60 to $82.50.
The Louisiana Sheriffs' Pension & Relief Fund owned about
$1.3 million of Lululemon stock and will handle the litigation on
behalf of shareholders.
Finally, Coverage of apparel retailer Urban Outfitters, Inc. (
) has been initiated by analysts at FBR Capital with an Outperform
and a $43 price target.
Share of URBN are unchanged in pre-market activity, and move
within a 52-week range of $34.38 - $44.96.
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