Sector Update: Consumer Shares Mixed Pre-Market; Jos A Bank To Decline Men's Wearhouse Offer

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Top Consumer Shares:

WMT: flat

MCD: +0.32%

DIS: flat

CVS: +0.46%

KO: +0.30%

GE: +0.48%

Consumer shares are mixed in pre-bell trading today.

In consumer sector news, Jos A Bank Clothiers ( JOSB ) said it won't accept the takeover offer from Men's Wearhouse ( MW ) because the price undervalues the company. Meanwhile, it said it continues to review all alternatives regarding potential strategic acquisition opportunities.

JOSB closed higher 0.94% on Friday. MW edged lower nearly 2% in pre-market trade.

And, Tribune Company and Time Warner Cable ( TWC ) today announced a new multi-year retransmission consent agreement for the Tribune broadcast television stations in New York, Los Angeles, Dallas, San Diego and Indianapolis, as well as the company's expanded station portfolio, which will soon include Local TV Holdings' television stations in Cleveland, Milwaukee, Kansas City, and Greensboro.

Finally, Tiffany ( TIF ) says charges from the Swatch Group award will reduce EPS for the fiscal year ended January 31, 2014 by $2.30 - $2.35 relative to the guidance issued on November 26, 2013 of $3.65 - $3.75.

TIF will pay Swatch Group $449 million in damages after losing a case over a failed joint venture to jointly design and market luxury watches.



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

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This article appears in: Investing , Commodities

Referenced Stocks: JOSB , MW , TIF , TWC

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