Top Consumer Stocks
Consumer stocks were back on positive ground late in Thursday trading, with shares of consumer staples companies in the S&P 500 rising over 0.6% while shares of consumer discretionary firms in the S&P 500 were up more than 0.2%.
Among consumer stocks moving on news:
(+) Essendant ( ESND ) was 2% higher in late trade after privately held retailer Staples extended its tender offer for the distributor of workplace, janitorial and breakroom supplies through Jan. 2 to allow the Hart-Scott-Rodino antitrust waiting period to also conclude. Through Wednesday's previously scheduled expiration at 6 p.m. ET, more than 22.1 million Essendant shares - or about 69.9% of its outstanding stock - have been tendered.
In other sector news:
(+) Amira Nature Foods Ltd ( ANFI ) rose more than 23% after the specialty foods company said it secured a $30 million contract to supply third-party branded basmati rice to a repeat customer operating in the Europe, Middle East and Africa region.
(+) China Automotive Systems ( CAAS ) was up 7% after the auto-parts manufacturer announced a joint venture agreement with South Korea-based Hyoseong Electric Co Ltd to design, build and sell electric motors for use in automotive electric power steering systems.
(+) Celsius Holdings Inc. ( CELH ) gained 2% on Thursday after the fitness beverage company said it was issuing $5 million in unsecured convertible notes due December 2020 to its largest individual shareholder, CD Financial LLC, and another $5 million of the notes to Charmnew Ltd and Grieg International Ltd. The notes replace an existing $3.5 million credit facility.
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