Consumer stocks were slightly lower today with shares of
consumer staples companies in the S&P 500 slipping about 0.2%.
Shares of consumer discretionary firms in the S&P 500 were down
In company news, Skullcandy (
) was higher in mid-day trade after the consumer electronics seller
Tuesday was raised to Hold from Underperform at Jefferies, which
also raised its price target for the stock by $1 to $8 a share.
In a new research note, the Jefferies analysts explained the
upgrade follows "signs of sustained fundamental improvement and a
cleaner foundation from an inventory, distribution and product
SKUL shares were up about 6.4% at $7.97 apiece this afternoon,
earlier advancing to a session high of $8.24 a share. The stock has
traded within a 52-week range of $5.20 to $11.40 a share, rising
about 46% over the past 12 months.
In other sector news,
(+) SMG, (+1.0%) Declares special one-time cash dividend of
$2.00 per share. Increases quarterly dividend by 3% to $0.45 per
share. Also approves $500 mln stock buyback program.
(-) SFM, (-7.2%) Launches secondary offering of 15 mln shares
now held by affiliates of Apollo Global Management (
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.