Consumer stocks are mostly higher today with shares of consumer
staple companies in the S&P 500 gaining 0.8% while shares of
consumer discretionary stocks in the S&P are now up just
In company news, Saga Communications (
) is down about 4% at $44.24 a share, maintaining some distance
from its intra-day low that followed the broadcaster saying it
expects Q3 gross revenue will be flat to up 2% compared to the
quarter last year.
SGA also said the compensation committee of its Board of
Directors approved making a total of 562,869 shares of its common
stock available for distribution under is 2005 Incentive
Compensation Plan and extending its authorization to make stock
grants through Sept. 6, 2018.
In other sector news,
(+) BZ, Accepts $2-bln buyout by Packaging Corp. of America (
), including $714 mln in BZ debt. BZ shareholders will receive
$12.55 for each of their shares in cash. PKG shares also is higher
(+) BZH, Proposes $200-mln offering in senior notes due 2021,
with plans to use net proceeds for general corporate purposes,
including potential land acquisitions.
Copyright (C) 2013 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.