Markets
PM

Sector Update: Consumer Consumers

Consumer shares were mixed in pre-market trade on Wednesday.

In consumer stocks news,Toyota Motor ( TM ) is recalling 650,000 vehicles in Japan for potentially defective airbags, Reuters reports. The recall expands a recall from 2013, when Takata Corp., which made the airbags, had not fully identified the problem parts.

And, Philip Morris International ( PM ) Wednesday said its board of directors declared a quarterly dividend of $0.94 per share, unchanged from the previous quarter's payout.

The dividend will be paid on July 11 to shareholders of record as of June 26. The ex-dividend date is June 24. PM was flat in pre-market trading on Wednesday. It was last sold for $88.39 Wednesday after hours.

Finally, CBS ( CBS ) said it plans to fully divest its 81% ownership in CBS Outdoor Americas Inc. ( CBSO ) through an exchange offer, the final step in the separation of the two companies following the IPO of CBS Outdoor in April. After the split-off, CBS Outdoor intends to convert into a real estate investment trust.

CBS shareholders can choose to exchange their CBS Class B common stock for shares of CBS Outdoor common stock at a 7% discount, subject to an upper limit of 2.1917 shares of CBS Outdoor common stock for every share of CBS Class B common stock.

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

PM TM

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