Markets

Sector Update: Consumer

Consumer stocks were broadly higher Monday with shares of consumer staples companies in the S&P 500 rising about 0.5%. Shares of consumer discretionary firms in the S&P 500 were ahead over 0.9%.

In company news, Dreamworks Animation ( DWA ) drew up some large gains Monday after the movie-production company named Fazal Merchant as its new chief financial officer.

Merchant joins DWA from DirecTV ( DTV ), where he was the CFO of the satellite broadcaster's Latin American unit. He replaces Lew Coleman, who earlier this month accepted a new assignment focusing on DWA's global growth initiatives.

Merchant officially begins at the company on Sept. 15.

DWA shares were up more than 9% ahead of today's close at $22.50 each, earlier climbing to a session high of $23.24 a share. The stock has traded within a 52-week range of $19.20 to $36.01 a share, declining nearly 21% in value over the past 12 months.

DTV shares recently were down about 0.1% at $84.12 apiece.

In other sector news,

(+) FDO, Receives $9.7 billion buyout offer from larger rival Dollar General ( DG ), trumping a bid last month by Dollar Tree ( DLTR ) by around $500 mln. Under DG's offer, FDO shareholders would receive $78.50 in cash for each of their shares, a $4 premium over the DLTR offer.

(-) FN, Postpones release of Q4, FY14 financial results while its board audit committee investigates whether they are potential violations of the company's accounting policies.

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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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