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Consumer Sector Update for 05/16/2016: JCP,TPUB,GCI,TWC,CHTR,DLR

Top Consumer Stocks

WMT +1.01%

MCD +0.23%

DIS -0.47%

CVS +0.73%

KO +0.57%

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.

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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