Top Consumer Stocks
WMT -0.19%
MCD -0.59%
DIS +0.55%
CVS -0.25%
KO -0.15%
Consumer stocks remain narrowly higher in late trade, with shares of consumer staples companies in the S&P 500 climbing just under 0.1% while shares of consumer discretionary firms in the S&P 500 also were posting a nearly 0.1% advance.
In company news, Advance Auto Parts Inc ( AAP ) climbed almost 5% on Tuesday, reaching a session high of $105.56 a share, after the retailer announced an exclusive partnership with Interstate Batteries beginning in spring 2018.
Financial terms of the partnership were not disclosed. The companies said Interstate batteries initially will only be available at company-owned Advance Auto stores and at independently owned Carquest stores, later expanding to Advance subsidiaries Worldpac, Autopart International and Carquest Canada locations as well.
In other sector news,
(+) FOXA, Thursday expected to announce the sale of most of its assets to The Walt Disney Co ( DIS ), with Fox shareholders receiving a fixed ratio of Disney stock while keeping their stake in the company's remaining properties. The proposal values Fox at more than $60 bln although the final price tag is still being negotiated, according to CNBC.
(-) GRPN, Piper Jaffray reiterates Overweight investment recommendation with a $6.25 price target, downplaying recent third-party scrapping data indicating the company had a weak November.
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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.
