Top Consumer Stocks
Consumer stocks were ending mostly lower, with shares of consumer staples companies in the S&P 500 falling less than 0.1% this afternoon while shares of consumer discretionary firms in the S&P 500 were sinking almost 0.5%.
Among consumer stocks moving on news:
(+) Tyson Foods ( TSN ) turned higher, rising almost 3% shortly before Monday's closing bell, after reporting a drop in adjusted Q2 net income to $1.20 per share from $1.27 per share during the same January-to-March fiscal period last year but still beating Capital IQ consensus by $0.05 per share.
In other sector news:
Sinclair Broadcast Group ( SBGI ) was surging this afternoon, rising over 30%, after the television broadcaster late Friday announced a deal with The Walt Disney Co ( DIS ) to acquire an equity stake in 21 regional sports networks along with Fox College Sports for $9.6 billion. Sinclair also is providing another $1 billion in preferred stock to support its new indirect subsidiary, Diamond Sports Group, which will house the sports networks.
(+) Post Holdings ( POST ) climbed 4% after Goldman Sachs raised its rating for the breakfast cereal company's shares to buy from neutral.
(-) Fred's ( FRED ) fell 60% to a record low of 55 cents a share on Monday after the discount retailer reported a three-fold increase in its fiscal Q4 net loss while net sales dropped 17.2% from year-ago levels. Its net loss for the three months ended Feb. 2 widened to $1.86 per share from $0.68 per share while net sales slid to $307.1 million from $370.9 million last year.
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