Top Consumer Stocks
Consumer stocks were posting narrow gains, with shares of consumer staples and consumer discretionary companies in the S&P 500 each up fractionally.
Among consumer stocks moving on news:
(+) Mohawk Group Holdings (MWK) was nearly 2% higher in recent Wednesday trading after the home and kitchen appliances company priced a $36 million initial public offering of 3.6 million shares at $10 each. The stock slipped as much as 4.7% but recovered and climbed as much as 7.4% before settling into its current range.
In other sector news:
(+) Mattel (MAT) jumped almost 5% higher after the toymaker last week turned down another takeover offer from privately held MGA Entertainment, according to reports. Mattel's chief legal officer Friday told MGA founder and CEO Isaac Larian they had no interest in future discussions, acccording to the Los Angeles Times. The Times reported that the deal was conditioned on Larian becoming Mattel's CEO and chairman and that the board quit with no "further compensation."
(-) Dave & Buster's Entertainment (PLAY) dropped 22% on Wednesday, falling to a 13-month low of $40 a share after the restaurant chain reported Q1 net income of $1.13 per share, improving from a $1.04 per share profit during the year-ago period but trailing the Capital IQ consensus by $0.01 per share.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.