Consumer Stocks Still Adding to Morning Gains

Consumer stocks were mostly higher, with shares of consumer staples companies in the S&P 500 advancing over 0.8% while shares of consumer discretionary firms in the S&P 500 were posting a 1.1% increase.

In company news, Hooker Furniture Corp (HOFT) rose Wednesday after the home furnishings company reported Q3 net income beating a single-analyst estimate after sales more than doubled compared with year-ago levels.

The company earned $0.56 per share during the three months ended Oct. 30, improving on a $0.43 per share profit during the same quarter last year and beating the lone analyst call by $0.10 per share. Net sales jumped 122.4% over year-ago levels to $145.3 million but still trailed the $148.67 million single-analyst estimate.

HOFT shares were up 13% at $33.15 each, earlier climbing to a session high of $33.81 a share.

By Travis Berry