Consumer Stocks In Wide Range Between Gains, Losses; B&G Foods Sees Latest Deal Adding Immediately to Earnings

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Top Consumer Stocks

WMT +0.36%

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Consumer stocks were broadly mixed, with shares of consumer staples companies in the S&P 500 advancing 0.1%. Shares of consumer discretionary firms in the S&P 500 were down 0.8%.

In company news, shares of B&G Foods ( BGS ) rose Friday after the packaged foods company late Thursday said it was acquiring Specialty Brands of America from American Capital Ltd ( ACAS ) for $155 million in cash.

Specialty Brands launched in 1992, with the company now operating Bear Creek Country Kitchens, which produces soups and pastas, as well as New York Flatbreads and Canoleo margarine along with several varieties of maple syrup, according to the company's website.

BGS said it expects the acquired brands to generate around $85 million in sales and $20 million in adjusted EBITDA on an annualized basis once they are fully integrated into the company. It also said the deal is seen immediately adding to the combined companies' per-share earnings and free cash flow.

BGS shares were up nearly 3% in recent trade at $31.25, earlier climbing to an intra-day high of $31.82 a share. The stock has a 52-week range of $27.35 to $37.66 a share, rising 8.4% over the past year through Thursday's close.

ACAS was up 0.7% Friday at $15.44 a share.

In other sector news,

(+) SNX, (+21.7%) Q1 EPS of $1.25, ex items, beats by $0.31 per share. Revenue rises 23% year over year to $3.03 bln, topping Street view by around $270 mln. Q2 earnings outlook exceeds estimates by at least $0.21 per share; projected revenue also beats.

(-) KMX, (-3.5%) Adjusted Q4 earnings of $0.52 per share miss Street view by $0.01. Revenue also trails analyst projections. Authorizes $1 bln stock buyback program.



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This article appears in: Investing , Commodities

Referenced Stocks: BGS , ACAS

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