Sector Update: Consumer

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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. ( OINK ) 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 quarterly revenue.

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 ( BWLD ). 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.



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This article appears in: Investing , Commodities

Referenced Stocks: BWLD , OINK

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