Sector Update: Consumer

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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.



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This article appears in: Investing , Commodities

Referenced Stocks: SHLD , TSLA , UA

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