Top Consumer Stocks
Consumer stocks are slightly higher, with shares of consumer
staples companies in the S&P 500 gaining less than 0.1%. Shares
of consumer discretionary firms in the S&P 500 are up about
In company news, RadioShack Corp. (
) was up more than 14% in recent trade, advancing to post some of
its best share prices in more than a month as Wall Street takes
increasing notice of hedge fund manager Jamie Zimmerman recently
acquiring an 8.1% passive stake in the struggling consumer
Zimmerman and her Litespeed Management funds have tended to
gravitate to distressed securities, special situations and
bankruptcies, looking to snap up shares on the cheap and cash out
as the company's fortunes and stock price recover.
Litespeed and its affiliates now own just more than 8.08 million
RSH, according to a Jan. 17 filing with the Securities and Exchange
Commission, acquiring all of the shares since the start of
RSH shares recently fetched $2.54 each, climbing as high as
$2.62 on Wednesday for slightly more than a 21% gain. The stock
closed unchanged Tuesday, with any bounce shares often enjoy after
a hedge fund discloses a sizable position likely lost in the
three-day weekend due to the Martin Luther King Jr. holiday.
In other sector news,
(+) BOBE, (+1.7%) Cuts FY14 EPS guidance, blaming severe winter
weather in the Midwest for the shortfall and causing between $3 mln
to $5 mln in lost sales. Sees net income of $2.20 to $2.30 per
share, trailing Street by at least $0.32 per share.
(-) COH, (-7.2%) Earns $1.06 per share in fiscal Q2, trailing
Capital IQ consensus by $0.05. Sales for the luxury handbag
retailer fell 6% year over year - largely due to weakness in North
America - to $1.42 bln, also missing analyst estimates by $50
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