Sector Update: Consumer

By Staff,

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Consumer stocks are slightly lower today with shares of consumer staple companies in the S&P 500 slipping 0.2%. Shares of consumer discretionary stocks in the S&P are down less than 0.1%.

In company news, Quality Distribution Inc ( QLTY ) is down 5.4% after late Thursday pricing an underwritten secondary offering of 4.27 million shares of its common stock by funds affiliated with Apollo Global Management LLC, among others, at $8.60 per share - a 5.4% discount to last night's closing price.

The selling stockholders have granted 30-day options to the underwriters to purchase up to 426,974 additional shares to cover possible overallotments. QLTY did not receive any proceeds from the offering.

In other sector news,

(-) LGF, (-0.6%, having earlier hit fresh 52 week highs) Motion picture and television studio earns $0.18 per in Q1, reversing a year-ago loss and topping analyst estimates for an $0.08 gain. Revenue climbs 20.8% to $569.7 mln, also beating forecasts.

(-) NDLS, (-11%) Q2 earnings of $0.18 per share, ex items, top analyst estimates by $0.06. Revenue climbs 18.1% from the same period last year to $89.2 mln, also beating the consensus view by $1.15 mln. Guides FY13 EPS in-line.

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: QLTY

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