Top Consumer Stocks
Consumer stocks are moderately higher with shares of consumer
staples companies in the S&P 500 gaining about 0.5%. Shares of
consumer discretionary firms in the S&P 500 are ahead nearly
In company news, ACCO Brands Corp. (
) shares reached some of their best levels since September after
the office supplies company reported preliminary Q4 and FY13
results matching analysts' expectations.
The supplier of branded school and office products said it
expects Q4 sales of around $500 million, including foreign-currency
impacts, and topping the analysts' mean estimate looking for $491
ACCO also expects meeting its guidance for Q4 adjusted EPS of
$0.78 to $0.79, excluding a negative currency impact of $0.03 per
share. The Capital IQ consensus is expecting $0.76 per share.
Results for the quarter are due out on Feb. 12.
Shares have traded within a 52-week range of $5.56 to $9.16
apiece, climbing today as high as $7.25 per share. The stock was up
8% at $6.78 a share shortly before the closing bell.
In other sector news,
(+) TWC, Rejects third buyout bid from Charter Communications (
), calling it "grossly inadequate." CEO Tom Ruttledge Executive
tells Bloomberg his firm offered $83 in cash and $49.50 in stock -
or $132.50 per share overall - for the cable rival.
(-) GME, Issues downside Q4 guidance, forecasting EPS at high
end of its $1.85 to 1.95 profit range but still lagging the Capital
IQ consensus by at least $0.19 per share.
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