Top Consumer Stocks
Consumer stocks are moderately higher, with shares of consumer
staples companies in the S&P 500 adding about 0.4%. Shares of
consumer discretionary firms in the S&P 500 are rising around
In company news, Calavo Growers (
) advanced, climbing to its best stock price in more than seven
months after reporting Q4 financial results that beat analyst
The avocado grower and distributor posted adjusted earnings of
$0.42 per share during the three months ended Oct. 31, topping the
Capital IQ consensus by $0.03. Revenue rose 34.7% year over year to
$190.7 million, breezing past the analyst mean by $11.13
Q4 net income declined by $0.02 per share compared to year-ago
levels to $0.40 per share due to the company's investment in its
FreshRealm subsidiary that aims to better connect fresh food
producers, buyers and food banks with one another.
CEO Lee Cole said CVGW's "operating trajectory remains squarely
on target," adding consumer's appetite also continues to grow. "Our
scale-driven packing operations leave us well positioned to
leverage these higher volumes to the company's advantage," he
CVGW shares were up nearly 7.7% at $31.95 in recent trade,
earlier climbing to within 30 cents of its 52-week high of $32.26 a
In other sector news,
(+) CVG, (+5.8%) Business-services company announces deal to
acquire Stream Global Services for $820 mln in cash. Deal is
expected to add $0.35 mln to EPS during the first 12 months after
closing, excluding amortization, integration and one-time
(-) COCO, (-3.6%) Said the enforcement office of the U.S.
Consumer Financial Protection Bureau's sent the for-profit educator
a letter in December warning it was considering legal action over
issues related to student loans.
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