Consumer Stocks Looking at a Lower Close

Consumer shares were pointing to a lower close for Monday’s session. In consumer stocks news, Tesla (TSLA) rose 1.9% after after Toyota (TM) reportedly said it sold its entire stake in Tesla, marking the end of a collaboration between the two companies. Toyota bought a $50 million stake in Tesla in 2010 and produced a car jointly with Tesla in 2011. It recently spun up its own electric car division and hopes to sell its own long-range electric vehicle by 2020. As of July 2016, Toyota held a 1.43% stake in Tesla. TM shares were down 1.4%.

TWX Barron’s said the shares could gain 20% over the coming year due to a successful “Wonder Woman” opening over the weekend. BG, (-0.5%) Reports said the company hired JPMorgan Chase and Shearman & Sterling to help it defend against takeovers

Leave a Comment