Consumer stocks are mixed this afternoon, with shares of
consumer staples companies in the S&P 500 rising nearly 0.5%
while shares of consumer discretionary firms in the S&P 500 are
down about 0.6%.
In company news, Scripps Networks Interactive Inc. (
) is up nearly 7% this afternoon, among the top consumer-sector
stocks in the S&P 500, following reports the cable-television
programmer may be a takeover target of rival Discovery
According to Variety, citing a person who was at the meeting,
the DISCA board on Tuesday discussed potential acquisitions it
could pursue, including a possible bid for the owner of the popular
Food Network, the Travel Channel and HGTV. Representatives of both
companies did not respond to Variety's requests for comment.
SNI shares recently traded at $80.22 apiece, climbing to an
all-time high of $81.27 earlier Wednesday.
SNI is no stranger to takeover speculation, with NBCUniversal,
now part of Comcast (
), as well as Fox (
) and Disney (
) all said to have considered offers in recent years. DIS
reportedly had been in advanced talks three years ago to acquire
the cable programmer until then-board member Steve Jobs lobbied
against a deal - with the one-time Apple (AAPL) impresario said to
having a lack of faith in the future of linear channels.
In other sector news,
(+) SWHC, (+3.7%) Q2 EPS of $0.28 beats by $0.07 per share.
Revenue climbs 2.0% year over year to $139.3 mln, topping consensus
view by $1.13 mln. Guides Q3 EPS, revenue above Street, beating
forecasts by at least $0.02 a share and $4.79 mln,
(-) ALSN, (-5.1%) Announced the sale of 12.5 mln shares of its
common stock by investment funds affiliated with The Carlyle Group
(CG) and Onex Corp. (OCX.TO). The transmission-repair chain did not
receive any offering proceeds.
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.