Sector Update: Consumer

By
A A A
Share |

Consumer stocks are narrowly mixed in late afternoon trading with shares of consumer staples companies in the S&P 500 climbing less than 0.1%. Shares of consumer discretionary firms in the S&P 500 are down less than 0.1%.

In company news, Shares of The E.W. Scripps Company ( SSP ) are up 1.3% at $18.59 each, looking to finish about 25 cents off their best levels of the day after the Benchmark Co. increased its price target for the broadcaster and newspaper publisher by $4 to $22 a share.

Benchmark maintained its Buy recommendation for the the stock.

E. W. Scripps operates in segments including television, newspapers, print advertising, digital advertising, and syndication.

In other sector news,

(+) JOSB, Drops its hostile takeover bid for Men's Wearhouse ( MW ), prompting MW's largest individual shareholder to launch a proxy fight to oust the current MW board and force a deal. MW shares also rallied.

(-) SUMR, Q3 net loss of $0.07 improves on 3.63 per share loss last year but still trails analyst estimates expecting $0.02 per share profit. Revenue declines 21.1% year over year to $50.5 mln, missing by $7.57 mln. Announces more job cuts.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: MW , SSP

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

2014's Best and Worst Jobs
2014's Best and Worst Jobs          

Stocks

Referenced

100%
0%

Most Active by Volume

132,019,746
  • $16.39 ▲ 2.44%
106,930,017
  • $59.09 ▲ 0.34%
91,643,760
  • $3.09 ▼ 1.12%
79,029,415
  • $85.02 ▲ 0.29%
46,131,885
  • $40.18 ▲ 3.74%
42,395,508
  • $7.06 ▼ 0.56%
40,101,748
  • $26.76 ▲ 0.75%
39,547,363
  • $13.33 ▼ 3.96%
As of 4/15/2014, 04:02 PM