Mid-Sized Advances for Consumer Stocks; ACCO Brands Climbs to 3-Month High After Q4 Sales, EPS Match Estimates


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Top Consumer Stocks

WMT +0.52%

MCD +0.37%

DIS +1.69%

CVS -0.22%

KO +0.29%

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 0.7%.

In company news, ACCO Brands Corp. ( ACCO ) 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 million.

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 ( CHTR ), 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.

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

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This article appears in: Investing , Commodities
More Headlines for: ACCO , CHTR

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