Sector Update: Consumer

By Staff,

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Consumer shares were mixed in pre-market trade Friday.

In consumer sector news, toy maker Mattel, Inc. ( MAT ) has agreed to buy its Canadian counterpart MEGA Brands Inc. (MB.TO) in a $460 million deal, including debt. MEGA Brands shareholders holding approximately 39% of MB.TO common shares have agreed to vote in favor of the transaction.

Mattel says the acquisition allows it to expand into the US$4-billion construction building sets and US$2-billion arts and crafts categories.

And, PharMerica ( PMC ) was up 2.8% after it reported Q4 earnings of $0.44 per share, which beat the Street view of $0.40 per share. Revenue was $450, also beating the Street view.

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

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

This article appears in: Investing Commodities
Referenced Stocks: MAT , PMC

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