Sector Update: Consumer

By Staff,

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Consumer shares are higher in pre-bell trading, joining with the broader stock market rally on Larry Summers' withdrawing his name from among the candidates for Fed Chief.

Sears Holdings Corporation ( SHLD ) says it intends to obtain a senior secured term loan facility of up to $1.0 billion.

If consummated, the Incremental Term Loan would be issued under the Existing Credit Agreement, which currently provides for a $3.275 billion asset-based revolving credit facility. The company intends to use the net proceeds of the Incremental Term Loan to reduce borrowings under the Revolving Facility.

And, Under Armour ( UA ) shares are dipping slightly in pre-bell trade after Susquehanna reportedly downgraded the stock to Neutral.

And Tesla ( TSLA ) shares are up about 2% in pre-market after Global Equities issued a favorable report on the company's patent applications and reiterated an Overweight rating, Seeking Alpha reports.

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: SHLD , TSLA , UA

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