Top Consumer Shares:
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.
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