Consumer Stocks Mostly Higher; Calavo Growers Serves Up 7% Gain Following Q4 Results

By Staff,

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Top Consumer Stocks

WMT +0.37%

MCD +0.63%

DIS +0.50%

CVS +0.21%

KO +0.20%

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 0.3%.

In company news, Calavo Growers ( CVGW ) advanced, climbing to its best stock price in more than seven months after reporting Q4 financial results that beat analyst expectations.

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 million.

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 said.

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 share.

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 costs.

(-) 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.

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: CVGW

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