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MAT

Consumer Stocks Sinking; Mattel Launching Playground Productions Unit, Q3 Results Awaited

Top Consumer Stocks

WMT -0.5%

MCD -1.2%

DIS -0.75%

CVS -1.1%

KO -0.5%

Consumer stocks are broadly lower with shares of consumer staples companies in the S&P 500 retreating 0.7%. Shares of consumer discretionary firms in the S&P 500 are falling 0.6%.

In company news, Mattel, Inc. ( MAT ) is now down 0.7% near $41.60, heading back down towards an early session low of $41.45 with the toymaker today saying it is launching Playground Productions, a new division keying on creating and developing strategic multiplatform storytelling.

MAT tomorrow is also slated to report its Q3 financial results, with analysts projecting a $1.12 per share profit, up from a $1.04 gain during the same quarter last year. Revenue is seen rising 4.3% year over year to $2.17 billion.

In other sector news,

(+) TUC, (+41.5%, hits fresh 52 week highs) Agrees to $524-mln cash buyout by CSC Serviceworks, with shareholders receiving $21.25 for each share they now own - a 42% premium over TUC's closing price last night.

(-) CZR, (-11.1%) Said several subsidiaries have entered into new credit agreements, consisting of $2.5 bln in senior secured term loans and a $269.5 mln senior secured revolving credit facility.

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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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