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Consumer Sector Update for 04/07/2015: AXTA,BRK-A,CG,WBAI,GM

Top Consumer Stocks

WMT -0.28%

MCD +0.35%

DIS +0.32%

CVS +0.21%

KO 0.00%

Consumer stocks are slightly lower in late Tuesday trade with the S&P Consumer Staples Index declining less than 0.1% and the S&P Consumer Discretionary Index falling about 0.1%.

In company news, Axalta Coating Systems ( AXTA ) advanced to a fresh all-time high Tuesday after saying Berkshire Hathaway (BRK-A) has struck a deal with majority owner Carlyle Group ( CG ) to acquire 20 million AXTA shares at $28 apiece, a 1.1% discount to Monday's closing price for the stock.

As part of the deal, BRK-A agreed it would not sell or otherwise dispose of the AXTA shares for at least 90 days after the transaction closes.

AXTA shares were up almost 10% at $31.09 apiece, earlier climbing to a record high of $30.81 a share. Since pricing its initial public offering of stock on Nov. 12, AXTA shares have risen almost 37% before today's price gain.

In other sector news,

(+) WBAI, Clarifies Monday statement by Chinese authorities cracking down on illegal online wagering, reminding investors the company is one of two firms licensed by the government to conduct lottery sales.

(-) GM, Canadian government discloses plans to sell its remaining 73.4 million shares of the automaker's stock acquired as part of a 2009 rescue plan for the company.

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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