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Sector Update: Consumer

By: MT Newswires
Posted: 7/21/2014 8:52:00 AM
Referenced Stocks: CPB;YUM;MCD;FOXA;TWX

Consumer shares were flat in pre-market trade Monday.

In consumer stocks news, Campbell Soup Co. ( CPB ) has reaffirmed its full-year guidance for fiscal 2014 of growth of 3% in net sales and for adjusted EPS growth at the low end of the 2 to 4% range, but says its 2015 sales may fall short of long-term goals.

CPB shares were steady at $43.95 in pre-market trade.

And, Yum! Brands ( YUM ) is lower in pre-market trade after both it and McDonald's ( MCD ) said they suspended meat purchases in China from a Shanghai-based firm. The companies' reported on their China-based microblogs that they stopped using the supplier amid food safety concerns.

MCD shares were down 1% at $98 in pre-market trade.

Finally, Twenty-First Century Fox ( FOXA ) is considering selling Italian and German pay TV assets, Sky Italia and Sky Deutschland AG, to be able to fund a higher bid for Time Warner ( TWX ), Bloomberg reported, citing two unnamed people with knowledge of the matter.

FOXA was off slightly in pre-market trade; TWX was up 1.1% at $88.20.