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


Shutterstock photo

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 Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: ANFI

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities
Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by