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Sector Update: Consumer

By: MT Newswires
Posted: 10/4/2013 8:22:00 AM
Referenced Stocks: HTSI;KR;TSLA

Consumer shares are mixed in pre-bell trading.

Tesla Motors ( TSLA ) is in talks with Samsung SDI over an accord to supply batteries to the electric carmaker as it expands and adds new models, Reuters reported.

The two confirmed they are in talks, but a deal is far from certain, it said.

Tesla stock is up almost about 1% pre-market at $174.31 after a rough week, which saw the share price plunge after a video circulated on the internet showing one of its cars catching fire.

And, Harris Teeter Supermarkets ( HTSI ) shareholders voted 98.6% in favor of the merger between HTSI and The Kroger Co ( KR ). The Plan of Merger was dated July 8, 2013.

Under the terms of the merger, Harris Teeter shareholders will receive $49.38 per share in cash for each share of Harris Teeter common stock that they own. Upon closing of the transaction, Harris Teeter's common stock will no longer be publicly traded and Harris Teeter will be a wholly-owned subsidiary of Kroger.

HTSI is flat at $49.09; KR is flat at $40.09.