Consumer stocks were mostly higher with shares of consumer
staples companies in the S&P 500 gaining almost 0.2%. Shares of
consumer discretionary firms in the S&P 500 were ahead about
In company news, Crocs Inc (
) was trading sharply higher Monday, rising over 21% to $16.15 in
recent trading after last night saying private equity firm
Blackstone was buying $200 million of the shoe company's
convertible preferred stock.
CROX also said board member and CEO John McCarvel announced
plans to retire, effective April 30, 2014. The company also
approved increasing its stock buyback program to $350 million as
well as reaffirming its Q4 outlook at the low end of its guidance,
now expecting a $0.23 per share net loss on around $220 million in
Analysts, on average, have been expecting CROX to generate
around $222.25 million in revenue during the three months ending
this week, down about 1.2% from year-ago levels.
In other sector news,
(+) CTB, Reverses earlier declines that followed the tire
company scrapping a proposed $2.5-bln buyout by Apollo Tyres,
saying financing for the deal is no longer feasible after a
valuation disagreement with its Indian rival.
(-) CBRL, Rejects efforts by Sardar Biglari to force the
restaurant chain to begin a sales process, with the board stating
the company's existing business strategy is best course of
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