Markets

Sector Update: Consumer

Consumer stocks were adding to small gains from earlier in Monday trade with shares of consumer staples companies in the S&P 500 this afternoon climbing about 0.3%. Shares of consumer discretionary firms in the S&P 500 also were ahead about 0.3%.

In company news, shares of Allegiant Travel ( ALGT ) fell Monday after the regional air carrier announced plans for a $300 million offering of of unsecured senior notes due 2019.

Proceeds from the offering, after first paying underwriter discounts and other expenses, will be used to help fund the company's purchase of 14 A320 Airbus passenger jets from Airbus Group NV ( EADSY ).

ALGT shares were down 2.3% at $113.72 each shortly before the closing bell, rebounding from its intra-day low of $113.13 a share. The stock has a 52-week range of $81.19 to $124.61 a share, rising almost 15% over that span.

In other sector news,

(+) LAD, Announces definitive agreement to acquire DCH Auto Group for $340 mln in cash and 300,000 shares of its stock worth another $22.5 mln in exchange for 27 new retail locations.

(-) DWA, "How to Train Your Dragon 2" sequel sells about $50 mln in tickets during its opening weekend, trailing estimates for a $65 mln box office.

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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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