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Sector Update: Consumers Lower Pre-Bell; Tyson Foods Secures Hillshire Brands Buy for $8.55 Bln

Top Consumer Shares:

WMT: -0.21%

MCD: -0.19%

DIS: -0.05%

CVS: flat

KO: -0.20%

GE: -0.33%

Consumer shares were lower in pre-market trade on Monday.

In consumer stocks news, Pilgrim's Pride ( PPC ) said it has withdrawn its offer to buy The Hillshire Brands Company ( HSH ) after Tyson Foods ( TSN ) trumped its offer with a $63 per share, or $8.55 billion bid.

And, coverage of specialty apparel retailer L Brands ( LB ) has been upgraded by analysts at Oppenheimer to a perform rating from underperform.

The firm also boosted its price target on the stock to $56 from $46 a share. Despite the increase, the new price target remains 6% below the stock's current market price.

In today's early session, shares of LB are unchanged from their June 6 close at $59.50, and move within a 52-week spread of $48.77 - $67.16.

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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