Markets

Consumer Sector Update for 01/22/2015: NFLX, LOGI, GZT

Top Consumer Shares:

WMT: +1.5%

MCD: +0.4%

DIS: +0.6%

CVS: flat

KO: +0.4%

GE: +1.0%

Consumer shares were generally higher ahead of the opening bell Thursday.

In consumer stocks news, coverage of internet TV network Netflix ( NFLX ) has been initiated by analysts at Pivotal Research with a buy rating and a price target of $550 a share.

The price target on the stock represents a potential upside of 34% from its Wednesday closing price.

Shares in the company were trading 0.6% higher at $411.80 during the pre-market trading session. Over the past 52 weeks, the company has traded between $299.50 and $489.29.

Meanwhile Logitech ( LOGI ) jumped sharply in Thursday pre-market trading, boosted by better-than-expected Q3 results that prompted the technology company to increase its earnings outlook for 2015.

The company, which provides personal computers, tablets and accessories, said the quarter benefited from higher sales of mobile speakers and strong performance in PC gaming and video collaboration.

Shares in the company were trading 10.5% higher at $15.57 during the pre-market trading session. Over the past 52 weeks, the company has traded between $11.20 and $16.88.

And Gazit-Globe ( GZT ), a supermarket-anchored shopping center concern, Thursday reported it agreed to acquire 13.87% of publicly held Atrium European Real Estate share capital and voting rights for $266.0 million, and thus become a controlling shareholder of Atrium.

Shares in Gazit-Globe were unchanged at $12.34 during pre-market trading. Over the past 52 weeks, the company has traded between $10.95 and $13.98.

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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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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