Credit: Shutterstock photoTop 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.
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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.
