Consumer Sector Update for 06/18/2019: NXST,NWS,NWSA,AMZN

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Top Consumer Stocks

WMT +0.07%

MCD +0.45%

DIS -0.43%

CVS +0.53%

KO -0.29%

Consumer stocks were broadly mixed, with shares of consumer staples companies in the S&P 500 slipping more than 0.3% this afternoon while shares of consumer discretionary firms in the S&P 500 were ahead almost 0.9%.

Among consumer stocks moving on news:

(+) Nexstar Media Group ( NXST ) rose 2.5% after the television broadcaster disclosed plans by a subsidiary for a private placement of up to $1.12 billion of senior notes due 2027. Net proceeds will be used to fund a portion of its proposed acquisition of Tribune Media Company ( TRCO ).

In other sector news:

(+) News Corp (NWS,NWSA) was 5% higher after Tuesday saying it has begun a strategic review of its News America Marketing business, including a potential sale of the proprietary database of shoppers and purchase data from more than 60,000 stores throughout the United States and Canada.

(+) Amazon ( AMZN ) climbed 1% on Tuesday following a TechCrunch report that its Twitch streaming video platform acquired the Bebo social networking site for $25 million in a bid to boost its e-sports offerings. According to technology website TechCrunch, Twitch beat out one other bidder, Discord, which organizes e-sports tournaments for streamers.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Business , Commodities
Referenced Symbols: NXST , TRCO , AMZN , NWS , NWSA

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