Markets
KO

Consumer Stocks Mixed in Late Trade; Corinthian Colleges Rallies After Lenders Agree to Default Waiver

Top Consumer Stocks

WMT -0.01%

MCD +0.60%

DIS -0.30%

CVS -0.33%

KO +0.71%

Consumer stocks were mixed this afternoon with shares of consumer staples companies in the S&P 500 climbing about 0.2%. Shares of consumer discretionary firms in the S&P 500 were down about 0.3%.

In company news, shares of Corinthian Colleges ( COCO ) were holding on to a nearly 15% gain shortly before Tuesday's close after the for-profit educator received a credit facility waiver with lenders.

The company said lenders for its syndicated credit facility have agreed to amend the facility and to waive an event of default that occurred as a result of the deferred tax asset valuation allowance the Company recorded during the three months ended March 31.

COCO shares were up 14.5% at $1.05 each in late trading, earlier climbing to a session high of $1.14 a share. The stock has a 52-week range of 82 cents to $2.97 a share, declining over 47% in value over the past year.

In other sector news,

(+) GMCR, Coca-Cola Co. ( KO ) increases 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.

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

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

KO

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