Markets

Consumer Sector Update for 04/08/2015: WMAR,ZEP,LGF

Top Consumer Stocks

WMT +0.48%

MCD +0.13%

DIS +1.05% West

CVS +0.17%

KO -0.27%

Consumer stocks were mixed in Wednesday trade, with the S&P Consumer Staples Index declining less than 0.1% while the S&P Consumer Discretionary Index was ahead almost 0.7%

In company news, West Marine Inc. ( WMAR ) advanced Wednesday after the specialty retailer's shares were raised to Buy from Neutral at B. Riley & Co., which also set a $12 price target for the stock.

WMAR shares recently were up more than 5% at $10.25, easing from an earlier session high of $10.88 a share. The stock has traded within a 52-week range of $8.37 to $13.72 a share, falling about 13% over the past 12 months prior to Wednesday's price gain.

In other sector news,

(+) ZEP, (+17.7%) Agrees to $692 mln buyout offer from New Mountain Capital, with the private equity firm paying $20.05 per share for the household products company. The deal includes a 30-day "go-shop" provision, allowing ZEP to solicit alternative proposal.

(-) LGF, (-5.9%) Prices secondary offering of 10 mln shares of its common stock previously held by MHR Fund Management at $32 apiece.

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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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