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Consumer Sector Update for 12/24/2018: SIRI,P,CPB,KHC,MDLZ,YGYI

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Top Consumer Stocks

WMT -1.42%

MCD -2.11%

DIS, -3.55%

CVS , -1.07%

KO, -3.28%

Consumer stocks were broadly lower Monday, with shares of consumer staples companies in the S&P 500 sinking 3%, while shares of consumer discretionary firms in the S&P 500 fell 2%.

Among consumer stocks moving on news:

(-) Sirius XM Holdings ( SIRI ) slipped about 1.4% on Monday. The satellite radio company said Pandora Media ( P ) shareholders will vote Jan. 29 on its $3.5 billion buyout of the internet broadcaster. The move coincides with Friday's expiration of the Hart-Scott-Rodino antitrust waiting period.

In other sector news:

(-) Campbell Soup Co ( CPB ) fell 6.5% on Monday after the packaged food company selected Kraft Heinz ( KHC ) and Mondelez International ( MDLZ ) to participate in the second-round auction of its international business, Reuters reported, citing unidentified sources. Based on the first-round bids, Campbell could pocket almost $3 billion for its overseas business, Reuters reported.

(-) Youngevity (YGYI) tumbled 14.5% on Monday after the health and nutrition products company filed a Form S-3 registration statement for the sale of up to 1.6 million common shares by a group of institutional and individual shareholders from time to time.

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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