Top Consumer Stocks
Consumer stocks were enjoying a small rebound on Friday from their prior retreat, with shares of consumer staples companies in the S&P 500 declining about 1.6% while shares of consumer discretionary firms in the S&P 500 were slipping nearly 2.0%.
In company news, shares of the Vitamin Shoppe ( VSI ) and other dietary supplements sellers fell ahead of a documentary scheduled to appear on PBS next week, with a Piper Jaffray analyst writing late Thursday the Jan. 19 FrontLine and New York Times ( NYT ) investigation is likely to bring more negative media attention to the industry.
“Supplements and Safety” is expected to highlight unscrupulous behavior by some producers as well as calling into question the validity of many of the products, possibility affecting sales, according to Piper analyst Sean Naughton.
VSI shares were down almost 7% at $28.23 apiece, earlier dropping to a session low of $26.80 a share. NGVC shares were down more than 2% at $21.16, while SFM was off almost 6% at $23.27 a share and WFM was sinking nearly 3% this afternoon at $29.70 a share. NYT shares were falling more than 2% to $12.51 each.
In other sector news,
(+) BSI, Receives additional offer to purchase its holdings in Blue Square Real Estate Ltd. Offer requests a no-shop period until Jan 24, with the company negotiating exclusively with the unidentified buyer.
(-) PSG, RBC Capital Markets reduces price target by $2.50 to $12.50 a share; Oppenheimer trims price target by $2 to 13 while Wedbush cuts by $5.50 to $8.50 a share.
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