Consumer Stocks Mixed; Amira Nature Foods Up After Buying German Rice Distributor, Deal Seen Adding to EPS

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Consumer stocks are mixed with shares of consumer staple companies in the S&P 500 falling 0.4% while shares of consumer discretionary firms in the S&P 500 are up about 0.4%.

In company news, Amira Nature Foods ( ANFI ) shares have been higher today, climbing as much as 6% after announcing a deal to acquire Basmati Rice GmbH, a specialty distributer of premium branded rice in Germany. Financial terms of the purchase were not disclosed.

ANFI said Basmati Rice generated around $8.0 mln in sales during 2012 and is up about 8.3% over year-ago levels at $6.5 mln in sales during the the nine months of the year through Sept. 30. It expects the deal will be accretive to its FY14 earnings.

The stock recently traded at $15.58 each, up 3.8%, within a 52-week range of $6.25 to near $17.40 a share.

In other sector news,

(+) DRI, (+6.1%, nearer 52 week highs) Starboard Value LP discloses 5.6% active stake in new 13D filing, owning a combined 7.25 mln shares across several investment vehicles.

(-) TIF, (-0.5%, from near 52 week highs) Ordered during Dutch arbitration to pay Swatch around $449.5 mln in damages. TIF expects the ruling will cost the jewelry and luxury goods retailer between $2.30 to $2.35 against its FY14 per-share earnings.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: ANFI

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