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GOL

Consumer Sector Update for 05/04/2016: GOL,MTCH,MBUU

Top Consumer Stocks

WMT +0.28%

MCD +0.90%

DIS +0.03%

CVS +0.06%

KO +0.56%

Consumer stocks were ending mixed, with shares of consumer staples companies in the S&P 500 rising 0.4% in defensive trade while shares of consumer discretionary firms in the S&P 500 were falling about 0.3%.

In company news, American depository shares of Gol Linhas Aereas Inteligentes SA ( GOL ) soared Wednesday after the Brazilian airline company late yesterday began a $780 million private exchange offers for all of its outstanding 7.50% senior notes due 2017 as well as four series of notes issued by its LuxCo affiliate.

In exchange for giving up their existing Gol debt, noteholders will receive cash and new securities maturing in 2018, 2022 and 2028, according to a securities filing by the company last night. Under terms of the offer, the noteholders will be accepting discounts of between 30% to 70% on face value of their current securities, the company said.

The exchange offer runs through June 1, with noteholders accepting the deal before the end of business on May 17 also receiving an early participation premium.

GOL ADS were up almost 30% at $9.13 apiece, recently reaching a session high of $9.29 per ADS.

In other sector news,

(+) MTCH, Adjusted Q1 net income of $0.11 per share, beating the Street view by $0.03 per share. Revenue climbs 21.4% over last year to $285.3 mln, also exceeding the $281.08 mln.

(-) MBUU, Fiscal Q3 revenue rises 5.7% over last year to $68.5 mln, lagging the $69.91 mln consensus. EPS of $0.40 match Street views.

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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