Top Consumer Stocks
Consumer stocks were somewhat lower Tuesday, with shares of consumer staples companies in the S&P 500 slipping 0.4% and shares of consumer discretionary firms in the S&P 500 also declining 0.4%.
In company news, Roadrunner Transportation Systems, Inc. ( RRTS ) turned lower again Tuesday afternoon, giving back earlier gains that followed the shipping and logistics company last night saying it expanded its borrowing capacity by 27% over current levels to $700 million.
In addition to the $150 million increase to the bank-syndicated credit facility, the expanded agreement extends its maturity through 2019 as well as modifying certain limits and terms, the company said.
RRTS shares were down about 0.5% in mid-day trade at $18.43 each, retreating from an earlier advance that lifted the stock as high as $18.70 a share.
In other sector news,
(+) RJET, (+9.2%) Raised to Buy from Hold at Deutsche Bank, which also increased price target by $3 to $8 a share. Upgrade follows tentative agreement yesterday by the company with pilot's union.
(-) TUES, (-18.1%) CEO Michael Rouleau retires, effective immediately. Also gives up board seat. Panel led by Board Chairman Steven Becker will oversee operations until a permanent chief executive is hired.
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