Top Consumer Stocks
Consumer stocks finished mostly lower this afternoon, with shares of consumer staples companies in the S&P 500 dropping about 0.1% while shares of consumer discretionary firms in the S&P 500 were declining over 0.5%.
In company news, Tribune Media Company ( TRCO ) advanced Monday after beating analyst projections with its Q4 earnings and guides its FY16 outlook for revenue above the Street view as beginning a review of its strategic alternatives.
The company earned $0.63 during the three months ended Dec. 31, topping the Capital IQ consensus by $0.11 per share. Revenues slipped 1% from the same period last year to $547.6 million, also topping the the $543.86 million consensus
Looking forward to the entire year, Tribune Media is expecting revenue in a range of $2.25 billion to $2.28 billion, topping the Street view by at least $20 million. The company also said it plans to explore the full range of strategic and financial alternative to enhance shareholder value and has hired Moelis & Co and Guggenheim Securities to assist with the process.
TRCO shares were up about 8.5% at $35.75 in late Monday trading, earlier jumping to a session high of $37.00 a share.
In other sector news,
(+) FDML, Auto parts seller receives buyout proposal from Icahn Enterprises ( IEP ) worth $7 a share, a 40.5% premium over Friday's closing price.
(-) TOUR, Excluding one-time items, company losses came to $0.79 per share, on $292.6 million during the period. Analysts, on average, had been expecting $0.44 per share net loss on $291.19 mln in revenue.
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