Sector Update: Consumer

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Consumer stocks were moderately higher in late trade Tuesday with shares of consumer staples companies in the S&P 500 climbing about 0.3%. Shares of consumer discretionary firms in the S&P 500 were up about 0.4%.

In company news, AMC Entertainment ( AMC ) was holding on to moderate gains this afternoon, with shares of the movie theater chain rising nearly 3% after B. Riley upgraded the stock to Buy from Neutral.

The research shop also boosted its price target for the stock by $2.50 to $28 a share, citing a strong start to the summer movie season.

AMC shares were ahead 2.8% at $23.20 each shortly before the closing bell, earlier climbing to an intra-day high of $23.47 a share. The stock has a 52-week range of$18.81 to $26.68 a share, rising just under 19% since pricing its initial public offering of stock at $19 a share on Dec. 18.

In other sector news,

(+) HSH, Pilgrims Pride ( PPC ) makes $6.4 bln cash offer for the packaged-food seller, which would need to table its proposed buyout of Pinnacle Foods ( PF ) in order to accept $45 a share offer.

(-) ZLC, A second proxy advisory firm, Egan-Jones Proxy Services, recommends shareholders vote for proposed deal with Signet Jewelers Ltd ( SIG ) at the company's special meeting on Thursday, May 29.



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.

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This article appears in: Investing , Commodities

Referenced Stocks: AMC , PPC , PF , SIG

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