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Sector Update: Consumer Stocks Sink on Debt Ceiling Standoff
By: MT Newswires
Top Consumer Shares:
Consumer shares are lower in pre-bell trading, down with the broader stock market on debt ceiling woes.
In consumer stocks news, Jamba, Inc. ( JMBA ) disclosed in a regulatory filing late Friday that Bruce Schroder has resigned as the company's chief operating officer, effective immediately.
With Schroder's departure, the company appointed Chris Beeson to be senior vice president of store operations, with responsibility for both company and franchise stores. JMBA is steady at $11.49, having closed up 4.5% on Friday.
And, General Motors ( GM ) is opening its $200 million metal plant in Texas today, the Wall Street Journal reports. The plant is projected to save the company $40 million per year and is part of a broader plan to close the company's profit margin gap to rival Ford Motor Co. ( F ).