Consumer stocks are lower shortly before the closing bell with
shares of consumer staples companies in the S&P 500 retreating
2.9%. Shares of consumer discretionary firms in the S&P 500
also are down about 2.6%.
In company news, ChinaEdu Corporation (
) is up 5.8% to $6.18 a share, slightly off its $6.32 session high
that followed the online education company received a going-private
offer from its CEO and executive chairman that values the company
at $128.8 mln.
CEO Shawn Ding and Executive Chairman Julia Huang are offering
$7 per American depositary share, or 20% above CEDU's $5.84 closing
price Wednesday night. CEDU said the potential buyers are in talks
with one or more banks to finance the proposed transaction.
CEDU also has formed a special board committee to assess the
Separately , CEDU yesterday reported Q1 per-ADS earnings of
$0.186, ex items, were up from non-GAAP EPS of $0.13 last year and
beating the analyst consensus by $0.01 per ADS. Quarterly revenue
declined 2.1% from year-ago levels to $19.2 million, roughly
in-line with analysts.
In other sector news,
(+) GME, Microsoft scraps new restrictions for its new Xbox One
game consol on selling, sharing or trading games - a key part of
(-) FIVE, Launches secondary offering of 8.6 mln shares by
selected shareholders, including company executives and board
members. The discount retailer currently has about 54 mln shares
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