Consumer stocks are rising, with shares of consumer staples
companies in the S&P 500 climbing 0.6%. Shares of consumer
discretionary firms in the S&P 500 are 0.5% higher.
In company news, Tianli Agritech Inc. (
) is up 3.1% at $1.96 a share, earlier climbing to a new 52-week
high of $2.05 after the Chinese pork producer turned in a Q3
profit, reversing a year-ago net loss and generating a big jump in
OINK earned $0.03 per share during the three months ended Sept.
30, up from a $0.10 per share net loss during the same quarter last
year. Revenue grew 33% year over year to $8.73 million, benefiting
from a gradual recovery in pork prices and improving momentum for
its black hog program and retail operations.
No analyst estimates were available for comparison.
The company also on Wednesday said regional authorities last
week ordered it to close its farm in China's Caidian district as
part of broader efforts to curtail agricultural run-off into a
nearby lake. The farm produced about 9% of OINK's 106,600 hogs sold
so far during 2013 and the company has petitioned to keep the farm
open into 2014 to ensure an orderly transfer of its livestock and
operations to other facilities.
In other sector news,
(+) NTN, (+0.1%) Inks multi-year service agreement for its
Buzztime BEOND platform with Buffalo Wild Wings (
). Also sells 6 mln shares of its common stock to Manatuck Hill
Partners and several individual investors at $0.40 each, receiving
$2.4 mln in proceeds.
(-) MM, (-14.1%) Posts break-even Q3, down from a $0.03 per
share profit in year-ago quarter and missing analyst expectations
for a $0.01 gain. Net sales excluding its Jumptap unit rise 18.3 %
year over year to $56.1 mln, trailing Street view by $10.9 mln.
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.