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Consumer Stocks Mixed This Afternoon; Keurig Green Mountain Jumps Nearly 10% After Coca-Cola Adds to Ownership Stake

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WMT -0.08%

MCD +0.15%

DIS -0.64%

CVS -0.23%

KO +0.88%

Consumer stocks were mixed this afternoon, with shares of consumer staples companies in the S&P 500 climbing about 0.3%. Shares of consumer discretionary firms in the S&P 500 were ahead more than 0.4%.

In company news, Keurig Green Mountain Inc. ( GMCR ) shares have jumped nearly 10% Tuesday after Coca-Cola Co. ( KO ) said it has increased its stake in the coffee company to 16%, acquiring another 2.8 million shares through a series of open-market transactions as well as a negotiated purchase of up to 6.5 million shares.

According to a new regulatory filing, KO spent around $302.3 million since last Thursday, May 8, through Monday's session to acquire the 2.6 million shares. Through a subsidiary, KO also struck a deal with Credit Suisse ( CS ) to buy up to 6.5 million of its GMCR shares over the next nine months, increasing its overall stake to around 26 million shares.

GMCR shares were up 9.8% at $121.50 each in recent trade, earlier rising nearly 12% to an intra-day high of $123.61 a share. The stock has a 52-week range of $56.87 to $124.42 a share, posting a 57.7% advance over the past year.

KO recently was up about 0.9% at $41.18 a share while CS shares were down 2.7% at $29.56 apiece.

In other sector news,

(-) DTV, (-0.8%) Retreats after earlier climbing to record high of $90.00 a share following reports AT&T ( T ) is near a $50 bln buyout offer in a deal valuing DTV shares in the low to mid-nineties, the Wall Street Journal said, citing people familiar with the talks.

(-) RDEN, (-20.6%) Hires Goldman, Sachs & Co. to assist with strategic review. Also posts fiscal Q3 net loss of $0.84 per share, ex items, missing estimates by $0.85. Revenue falls 20.3% year over year to $210.8 mln, lagging Street view by $43.38 mln.

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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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