Markets

Consumer Sector Update for 06/26/2017: GOOS,VOXX,SPTN

Top Consumer Stocks

WMT +1.02%

MCD -0.43%

DIS +1.00%

CVS +3.17%

KO 0.39%

Consumer stocks were solidly on positive ground on Monday, with shares of consumer staples companies in the S&P 500 helping lead the broader U.S. markets higher with a 0.5% advance while shares of consumer discretionary firms in the S&P 500 were posting a nearly 0.4% increase.

In company news, Canada Goose ( GOOS ) retreated Monday, declining as much as 7% to a session low of $20.42 a share in New York trading after the retailer this morning disclosing plans for a secondary offering of 12.5 million of its subordinate voting shares now held by Bain Capital or CEO Dani Reiss along with eight other executives.

Bain Capital is putting up the bulk of the share to offered, selling almost 10.6 million shares, or just over 18% of its current 58.3 million share stake. Reiss, meanwhile, is selling just under 1.9 milion shares, or about 7.5% of his nearly 25 million shares, according to the preliminary prospectus.

Among the remaining insiders selling stock is CFO John Black, who is looking to cash in 29,673 of his shares - or like the other participating executives who each are selling 10% of their respective stakes.

In other sector news,

(+) VOXX, (+13.4%) Plans to sell its sell its Hirschmann Car Communication GmbH unit to TE Connectivity ( TEL ) for around $166.0 mln.

(-) SPTN, (-4.4%) Reduced to Sell from Hold at the Pivotal Research Group, which also today lowered its price target for the company's stock by $15 to $20 a share.

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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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