Consumer Sector Update for 09/24/2015: CZR,TASR,GOL
Top Consumer Stocks
Consumer stocks turned narrowly mixed in late trade, with shares of consumer staples companies in the S&P 500 shedding earlier declines to more recently trade about 0.1% higher while shares of consumer discretionary firms in the S&P 500 still were slumping about 0.3%.
In company news, shares of Caesars Entertainment Corp. ( CZR ) slumped Thursday following reports that talks between the casino company a group of junior bondholders have reached an impasse, threatening to drag it into bankruptcy along with its operating unit.
Caesars and the bondholders committee haven't had any substantive talks since last month, Bloomberg said, citing two people familiar with the negotiations. The creditors include some major equity holders who may see their stakes wiped out in any bankruptcy of the parent company, the sources said.
CZR shares were down nearly 7% at $7.51 each, earlier sinking to a session low of $6.83 a share. Prior to today's retreat, the stock already had fallen more than 35% over the past 12 months.
In other sector news,
(+) TASR, Receives order for 2,000 Axon Flex body cameras and a five-year subscription to Evidence.com service from the Memphis, Tenn., police department.
(-) GOL, Issues 105,000 debentures with a face value of R$10,000 ($2,447) and an interest yield equal to 132% of the accumulated variation of the average daily one-day, over extra grupo, Interbank Deposit Rate.
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