Markets

Consumer Sector Update for 03/02/2016: COT,BCB.TO,NYNY,BGFV

A generic image of a pen on a chart
Credit: Shutterstock photo

Top Consumer Stocks

WMT -0.44%

MCD -0.87%

DIS -1.01%

CVS +0.09%

KO -0.03%

Consumer stocks were mostly underwater Wednesday, with shares of consumer staples companies in the S&P 500 falling about 0.2% while shares of consumer discretionary firms in the S&P 500 were sinking about 0.7%.

In company news, Cott Corp. (COT,BCB.TO) declined Wednesday after the private-label soft-drink bottler late Tuesday priced a $129.8 million bought-deal offering of 11 million shares at $11.80 apiece.

The company plans to use the net proceeds from the offering to repay a portion of its borrowings under an asset-based lending facility, which may be redrawn, from time to time, as well funding potential acquisitions.

COT shares were down 4% at $12.09 each, previously dropping to a session low of $11.69 a share. The stock also was falling in Canadian trading, with BCB.TO shares slipping just under 4% to C$16.22 at the Toronto Stock Exchange, rebounding from a session low of C$15.67 a share.

In other sector news,

(+) NYNY, (+11.9%) Gaming facility license awarded March 1 by state regulators for the company's Montreign casino in the Catskill region of New York but remains subject to several more hurdles, including a $51 mln payment by March 31.

(-) BGFV, (-10.6%) Expects adjusted Q1 net income of between $0.02 to a net loss of $0.05 per share, trailing the Capital IQ consensus by at least $0.13 per share. Sees same-store sales in range of negative low single digits to positive low single digits.

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

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


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

In This Story

BGFV

Other Topics

Commodities

Latest Markets Videos