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Sector Update: Consumer Shares Mixed Pre-Market; Elizabeth Arden Tanks 20% on Q3 Loss

Top Consumer Shares:

WMT: flat

MCD: +0.38%

DIS: +0.22%

CVS: flat

KO: flat

GE: flat

Consumer shares were generally mixed in pre-market trade Tuesday.

In consumer sector news, IMAX Corporation (IMAX, IMX.TO) and Formula Kino have announced an agreement to install three IMAX theatres in new construction projects across Russia. Under the terms of the agreement, IMAX theatres will be installed in Moscow and Novokuznetsk. IMAX's next-generation laser digital projection technology to be added to a new complex in Moscow expected to open in 2015, which will be IMAX's first laser system deal in the country.

The agreement brings Formula Kino's total IMAX commitment to eight theatres, with existing IMAX theatres in St. Petersburg, Moscow and Syktivkar.

And, Keurig Green Mountain ( GMCR ) shares climbed in Tuesday's pre-market session, after a regulatory filing showed beverage giant Coca-Cola ( KO ) boosted its beneficially owned stake in the specialty-coffee and coffeemaker company to 16% with the acquisition of $2.8 million shares for $302.3 million and an agreement to buy another 6.5 million shares.

In late February, Coca-Cola had a stake of about 10.1%, or 16.7 million shares.

Finally, Elizabeth Arden Inc. ( RDEN ) was down more than 20% pre-market after the beauty products company late Monday announced plans to begin a strategic review of the company and its options on top of reporting a wider net loss attributable to shareholders and reduced revenue during the three months ended March 31 compared to year-ago levels.

Revenue fell 2.30% year over year to $210.8 million, trailing the Capital IQ consensus by $46.86 million.

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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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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