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Sector Update: Consumer Stocks Ending Mixed; Education Management Jumps on New Merger Rumors

Top Consumer Stocks

WMT -0.51%

MCD +0.16%

DIS +0.84%

CVS -0.47%

KO +1.84%

Consumer stocks were mixed Friday afternoon with shares of consumer staples companies in the S&P 500 rising 0.2%. Shares of consumer discretionary firms in the S&P 500 were down about 0.1%.

In company news, Education Management Corp ( EDMC ) was sharply higher Friday amid renewed Internet chatter the for-profit educator could be looking to merge in today's tough market environment for the sector and increased regulatory scrutiny.

In particular, some investors today were on Internet chat boards for EDMC citing a SE Group report from earlier this week speculating the company and Corinthian Colleges ( COCO ) could likely merge.

COCO this week said it received a grand jury subpoena seeking records including student-loan defaults and job placements. The for-profit chain last month said it was putting 85 locations up for sale as it tries to remain above water.

EDMC shares were up slightly more than 23% in late Friday trade at $1.57 apiece. The stock slid to an all-time low of $1.12 last Tuesday, Aug. 12. COCO was down nearly 11% shortly before the close today at 15 cents a share.

In other sector news,

(+) MNST, Enters long-term strategic partnership with Coca-Cola ( KO ), which will buy 16.7% stake in MNST for $2.15 bln. The deal includes KO contributing its energy portfolio to MNST, which will contribute its non-energy portfolio to KO.

(-) EVRY, Reports Q2 net loss of $26.9 mln, or $1.31 per share, which may not be comparable to Capital IQ consensus expecting $0.31 loss. Excluding items, adjusted loss was $0.95 per share. Revenue falls 1.0% to $99.8 mln, lagging Street by $400,000.

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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