Consumer stocks were slightly higher today with shares of
consumer staples companies in the S&P 500 rising about 0.2%.
Shares of consumer discretionary firms in the S&P 500 were
ahead about 0.1%.
In company news, shares of Isle of Capri Casinos Inc. (
) advanced to a three-year high Wednesday after analysts at
Deutsche Bank today speculated Gaming and Leisure Properties (
) could pay as much as a 78% premium for the gambling company over
its closing share price last night.
In a new research note, the Deutsche analysts said GLPI could
pay up to $15.82 a share for ISLE, or about $1.62 billion overall
including debt. Deutsche also said a sale leaseback of selected
ISLE properties are possible, although it believes outright sale
seems more likely.
ISLE shares rallied to a high of $10.20 each earlier today,
crossing $10 a share for the first time since January 2011, before
easing into the current range around $9.90 a share, up 11%. Over
the past 12 months, the stock has risen just over 25%.
GLPI recently was up 3% at $35.94 a share.
In other sector news,
(+) VITC, (+27.0%) Agrees to $280 mln buyout by Kroger (
), with VITC shareholders receiving $8 per share in cash for each
share they now own.
(-) GPRO, (-10.3%) Falls for the first time in five sessions
after Dougherty & Co. rates the company as a Buy with a $28
price target but analyst Charlie Anderson also cautions during TV
interview its multiples already are "up there in the
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.