Sector Update: Consumers

By Staff,

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Consumer shares were generally lower in closing trade Friday.

In consumer sector news, J.C. Penney ( JCP ) shares were taking a hit Friday as the selling pressure on Wall Street hits the retailer especially hard. The stock has slipped below its 50-day moving average at $7.87 and trading with a loss of nearly 11% at a 2-month low.

And, shares of ( AMZN ) were lower Friday after the online retailer late yesterday announced a deal to acquire comiXology, which owns a broad library of digital comic book content from over 75 publishers and independent creators.

Financial terms of the transaction were not disclosed. The deal is expected to close before the end of June.

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: JCP , AMZN

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