Top Consumer Stocks
Consumer stocks were moderately higher today, with shares of consumer staples companies in the S&P 500 riding a 0.5% advance while shares of consumer discretionary firms in the S&P 500 were gaining over 0.4%.
In company news, J.C. Penney ( JCP ) was lower in afternoon trading, giving back an early advance that follow an upgrade of the department-store retailer to Outperform from Neutral at Robert W. Baird.
The Baird analysts also increased their price target for Penney stock by $1 to $12 a share.
JCP shares were down nearly 2% at $7.46, recovering slightly from their session low of $7.35 a share after reaching a session high of $7.85 soon after today's opening bell.
In other sector news,
(+) TPUB, (+21.9%) Gannett ( GCI ) raises buyout offer by 22.4% over previous bid to $15 per share, or about $864 mln, overall, including debt. TPUB said it will thoroughly review the latest offer.
(-) TWC, (-2.5%) Dropped from the S&P 500 and will be replaced by Digital Realty( DLR ). The Federal Communications Commission on Friday approved Charter Communications' ( CHTR ) buyout of TWC, with the $78 mln deal set to close Tuesday.
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