Top Consumer Stocks
Consumer stocks were moderately higher Wednesday, with shares of consumer staples companies in the S&P 500 adding about 0.1% in value while shares of consumer discretionary firms in the S&P 500 were gaining just over 0.5%.
In company news, Clean Diesel Technologies ( CDTI ) rose Wednesday after saying it was partnering with auto components company Denso Corp to provide its diesel emissions control and catalyst technology to the North American heavy-duty market.
Through the new partnership, Clean Diesel Tech initially will produce and Denso will distribute PowerEdge diesel after-treatment, which also will include Clean Diesel's particulates filter and diesel oxidation catalyst. Financial terms of the collaboration agreement were not disclosed.
CDTI shares were up more than 21% at $2.40 each, backing down from an earlier spike to a session high of $3.05 a share soon after today's opening bell.
In other sector news,
(+) ACAT, (+41.6%) Agrees to $247 mln buyout offer from Textron ( TXT ), which will pay $18.50 for each ACAT share, a 40.7% premium over the stock's Jan. 20 closing price.
(-) HZN, (-10.8%) Plans public offering of 4.03 mln shares of its common stock in addition to a $115 mln offering of convertible senior notes due 2022. Sees GAAP net sales growing 3% to 3.5% before impact of Westfalia acquisition.
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