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CMG

Consumer Sector Update for 03/17/2016: CMG, NWL

Top Consumer Shares:

WMT: -0.5%

MCD: -0.1%

DIS: -0.3%

CVS: -0.3%

KO: -0.1%

GE: -0.2%

Consumer shares were lower ahead of the opening bell on Thursday.

In consumer stocks news, Chipotle Mexican Grill ( CMG ) was downgraded to underperform from hold by Jefferies & Co. and the firm reduced its price target to $350 from $390 a share in Thursday trading.

Shares in the company were 1.3% lower at $493.77 pre-bell. The company has traded between $399.14 and $758.61 over the past 52 weeks.

And Newell Rubbermaid ( NWL ), a marketer of consumer and commercial products, says it agreed to sell its Levolor and Kirsch window coverings brands to Hunter Douglas. Gross proceeds from the transaction are expected to be $270 million, which includes the retention of accounts receivable. The transaction is expected to close in 2016. Proceeds will be used to pay down debt.

Shares in the company were unchanged at $42.16 pre-bell. The company has traded between $33.26 and $50.90 over the past 52 weeks.

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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