Mexico Stocks: Grupo Herdez, Maxcom Telecomunicaciones, Elektra
The following companies had unusual price changes in Mexico trading. Stock symbols are in parentheses, and prices are as of the close of trading.
The IPC index rose 0.3 percent to 39,461.00.
Grupo Herdez SAB (HERDEZ*) , a Mexican packaged food company, soared 5.3 percent to 28.84 pesos, extending its monthly gain to 8.9 percent. Net income climbed 0.7 percent to 156.3 million pesos ($12 million), the company said April 26 after markets closed. Sales soared 19.3 percent in the period to 2.5 billion pesos. The company’s “healthy” sales growth may continue to have a “positive effect on the stock,” Banco Santander SA (SAN) said in an e-mailed research note today.
Maxcom Telecomunicaciones SAB (MAXCOMCP MM), a land-line phone carrier, fell 5.2 percent to 2.93 pesos, extending its monthly drop to 10.7 percent. Sales tumbled 7.1 percent to 547.3 million pesos in the first quarter even as the company’s net income climbed to 97.6 million pesos in the first quarter, from a 32.6 million peso net loss a year earlier. Earnings before interest, taxes, depreciation and amortization fell 18 percent to 166 million pesos.
Grupo Elektra SAB (ELEKTRA*) , the retail and banking company controlled by billionaire Ricardo Salinas, fell 1.2 percent to 805.90 pesos. Elektra still trades at about three times the average for the IPC index even after falling 34 percent in April, the company’s worst monthly rout since 2009.
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