Markets

Consumer Sector Update for 11/12/2014: TPUB,MTOR,SEAS

Top Consumer Stocks

WMT +0.30%

MCD +0.18%

DIS -0.03%

CVS -0.46%

KO +0.55%

Consumer stocks were narrowly higher in afternoon trade with shares of consumer staples companies in the S&P 500 inching to a 0.1% advance. Shares of consumer discretionary firms in the S&P 500 were up 0.6%.

In company news, Tribune Publishing Company ( TPUB ) rose Wednesday after the newspaper company released a letter from an institutional investor urging the company to put its non-core assets up for sale immediately to take advantage of their currently high valuations.

According to Eagle Capital, it believes the assets could fetch as much as $150 million. The hedge fund also said TPUB should begin a stock-buyback program.

TPUB shares were ahead over 5% at $17.85 each, earlier rising to a session high of $17.99 a share. The stock has traded within a range of $15.00 to $26.90 since its July 24 spinoff from the Tribune Co., slipping 33.6% over that span.

In other sector news,

(+) MTOR, Fiscal Q4 adjusted earnings of $0.35 per share beats Capital IQ consensus by $0.22 per share. Revenue grows 3.4% year over year to $933 mln, topping estimates by around $14.13 mln.

(-) SEAS, Q3 adjusted EPS of $1.01 lags Street view by $0.14 per share Revenue declines 7.9% from year-ago levels to $495.8 mln, narrowly missing consensus by around $450,000.

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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