Consumer stocks are mixed in late trade with shares of consumer
staples companies in the S&P 500 retreating 0.3% while shares
of consumer discretionary firms in the S&P 500 have turned
about 0.1% higher.
In company news, Goodyear Tire & Rubber Co. (
) is down over 6% at $21.24 a share, holding about 30 cents above
its session low following a downgrade today of the tire-maker to
Hold from Buy at Deutsche Bank.
The research shop also reduced its price target by $3 to $26 a
share, citing worries over GT's margins over the next few
In a new research note today, the Deutsche Bank analysts said
the company's potential margins over the next few years may not be
as clear as they have been in the past, with that uncertainty
leading them to lower their rating for the stock.
In other sector news,
(+) HAS, Toymaker reports a 1.9% increase in Q3 revenue over
year-ago levels to $1.37 billion, beating the analyst consensus by
around $40 million. Earns $1.31 per share, topping expectations by
(-) JCP, Imperial Capital reiterates Underperform rating with $1
price target, the lowest among the 17 analysts following the
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.