Markets
NAV

Consumer Sector Update for 12/18/2015: NAV,RLOC,NAKD

Top Consumer Stocks

WMT +0.31%

MCD -1.06%

DIS -4.04%

CVS +0.04%

KO -1.69%

Consumer stocks were declining this afternoon, with shares of consumer staples companies in the S&P 500 falling nearly 1.3% while shares of consumer discretionary firms in the S&P 500 were sliding over 0.9% lower.

In company news, Navistar International Corp ( NAV ) gained Friday after the truck manufacturer late yesterday said it was near a settlement with U.S. securities regulators in a probe into the company's pollution-control technology and the 2012 resignation of its chief executive at the time.

Navistar would not have to admit or deny wrong-doing under the tentative deal with the U.S. Securities and Exchange Commission and has set aside an undisclosed amount for a likely civil penalty, according to a regulatory filing last night. Agency staff have recommended accepting the company's offer, it said.

The dispute follows Navistar in mid-2012 abandoning its efforts to develop diesel engines that would meet with tougher U.S. Environmental Protection Agency rules after maintaining for years that they would. Then-CEO Dan Ustian quit shortly later.

Separately, the company last night said its fiscal Q4 net loss had narrowed to $50 million, or $0.61 per share, from a $72 million and $0.88 per share loss during the same quarter last year. Revenue declined 17.3% from year-ago levels to $2.49 billion during the three months ended Oct. 31, trailing the analyst consensus expecting $2.55 billion.

The stock also may getting a boost from an upgrade today to Neutral from Underweight at JPMorgan.

NAV shares were up nearly 6% at $8.45 each, earlier streaking to session high of $11.54 a share.

In other sector news,

(+) RLOC, (+53.6%) Secures $10 mln in new funding from VantagePoint Capital Partners, its largest shareholder, while Hercules Technology Growth Capital trims restricted cash required for term loan by $2.5 mln to $15 mln. Reiterates expected Q4 revenue of $88 mln to $92 mln compared with two-analyst consensus of $89.09 mln.

(-) NAKD, (-15.0%) Prices public offering of 1.9 mln shares at $4.00 each, generating around $6.9 mln in net proceeds. Uplists to Nasdaq Global Select market.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

NAV

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More