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Consumer Sector Update for 12/16/2015: ASNA,SGMS,GRUB

Top Consumer Stocks

WMT +0.86%

MCD +0.22%

DIS +0.22%

CVS +4.37%

KO +1.25%

Consumer stocks were broadly higher in afternoon trade, with shares of consumer staples companies in the S&P 500 posting a 1.2% advance while shares of consumer discretionary firms in the S&P 500 were showing a 0.5% increase.

In company news, shares of Ascena Retail Group Inc. ( ASNA ) rose Wednesday after the apparel store chain authorized a new, $200 million stock buyback program.

The new authorization replaces the company's previous share-repurchase plan that still had around $90 million remaining. In prepared remarks, CEO David Jaffe late Tuesday said the stock-buyback plan reflects the retailer's confidence in its business model and projected cash flows while also adding "flexibility to enhance stockholder value."

ASNA shares were up more than 4% this afternoon at $10.13 apiece, earlier reaching a session high of $10.30 a share.

In other sector news,

(+) SGMS, (+8.9%) Names Michael Quartieri to chief financial officer, effective after the company files its Form 10-K annual report for 2015. Quartieri recently joined SGMS after nine years at Las Vegas Sands ( LVS ).

(-) GRUB, (-0.8%) Reduced to Market Perform from Outperform at Northland Capital.

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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