Markets

Consumer Sector Update for 09/29/2017: HAIN,CAG,FARM,TSQ

Top Consumer Stocks

WMT -1.13%

MCD -0.71%

DIS +0.45%

CVS +0.05%

KO +0.14%

Consumer stocks were ending mixed this afternoon, with shares of consumer staples companies in the S&P 500 declining about 0.1%, giving up a narrow gain earlier today, while shares of consumer discretionary firms in the S&P 500 were hanging on to a nearly 0.4% increase.

In company news, shares of The Hain Celestial Group ( HAIN ) have given back much of their more than 4% advance earlier Friday that followed reports the organic foods products could soon receive a buyout offer from industry conglomeratge ConAgra Brands ( CAG ).

According to the company's earnings call from Thursday, management makes several references to making acquisitions "to drive shareowner value," while

A DealReporter article speculated Hain Celestial is a likely acquisition target while company managers during a conference call Thursday with analysts and investors to discuss its most recent financial results made several references it could be shopping for possible buyout opportunities in a bid "to drive shareholder value."

In other sector news,

(+) FARM, Reports non-GAAP Q4 net income of $0.19 per share, slipping from $0.23 per share during year-ago period but still beating the three-analyst consensus by $0.08 per share. Net sales slip 0.3% to $133.8 mln, missing the $135.7 million Street view.

(-) TSQ, Cut to Underperform from Buy in a downgrade today at Bank of America Merrill Lynch.

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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