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Consumer Sector Update for 06/27/2017: WMT, MCD, DIS, CVS, KO, GM, DRI, CBS

Top Consumer Shares:

WMT: +0.1%

MCD: +0.2%

DIS: -0.7%

CVS: flat

KO: +0.4%

Consumer shares were mixed ahead of Tuesday's open.

In consumer stocks news, General Motors Company ( GM ) was down 0.8% following a Reuters interview with GM's chief financial officer, Chuck Stevens, who told analysts that the company is expecting the charge for the sale of its Opel to Peugeot SA to reach $5.5 billion against previous estimate of $4.5 billion due to additional costs associated with the deal. He said earlier that new vehicle sales would hit a seasonally adjusted annual rate of "low 17 million" units for 2017, down from previous estimate of "mid-17 million".

In other sector news,

(+) DRI (+2.1%) Fiscal Q4 results top Street estimates, and sees FY18 EPS above expectations

CBS (flat) To offer $900 million in senior notes, and redeems 4.625% senior notes due 2018

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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