Sector Update: Consumer Shares Mixed


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Top Consumer Shares:

WMT: flat

MCD: -0.02%

DIS: -0.02%

CVS: flat

KO: -0.28%

GE: +0.25%

Consumer shares are mixed in pre-bell trading. J.C. Penney ( JCP ) and Bill Ackman, the company's largest investor, agreed that Ackman may make up to four requests to sell some of his stake.

The rights granted to Ackman under the Aug. 13 agreement end when he and his funds own less than 5% of the retailer's stock, according to a regulatory filing. Ackman, who agreed this week to leave the company's board, holds an almost 18% stake in the company.

And Fox ( FOXA ) is gearing up to launch a sports channel tomorrow. The new channel is called Speed. FOX is steady at $31.84. Meanwhile, the dispute between Time Warner Cable ( TWC ) and CBS ( CBS ) over retransmission fees has shown no signs of being resolved, although most analysts believe the two companies will reach a middle ground before football season begins.

Finally, Green Mountain Coffee Roasters ( GMCR ) will become a component of the NASDAQ-100 Index (NDX), the NASDAQ-100 Equal Weighted Index (NDXE) and the NASDAQ-100 Ex-Tech Sector Index (NDXX) prior to market open on Thursday, August 22, 2013. Green Mountain Coffee Roasters, Inc. will replace Life Technologies Corporation (LIFE).

Green Mountain Coffee Roasters, Inc. is headquartered in Waterbury, Vermont, and has a market capitalization of approximately $11.7 billion. GMCR is up 2.3% at $75.62 pre-market; LIFE is steady at $74.55.

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
More Headlines for: CBS , FOXA , GMCR , JCP , TWC

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