Consumer stocks were ending mixed to begin the new week, with shares of consumer staples companies in the S&P 500 rising about 0.2% while shares of consumer discretionary firms in the S&P 500 slid 0.8% lower.
In company news, Hasbro (HAS) declined on Monday after analysts at Piper Jaffray today pared their investment rating for the company’s stock to Neutral from Overweight. HAS shares were down almost 3% at $85.36 apiece, bouncing back from an earlier slide to $85.12 a share.
In other sector news, TIME, Reportedly rejects $18 per share takeover bid from Edgar Bronfman Jr., managing partner at the Accretive LLC private equity firm and former CEO o Warner Music Group, according to the New York Post. TUP, Reduced to Sell from Neutral at B. Riley & Co., which also cut its price target for the stock by $17 to $47 a share.