Company News

BUZZ-Winter coat, propane stocks warm up during cold spell

** Shares in winter coat and propane suppliers soar while temperatures stay below freezing in much of the United States and forecasters predict more bad weather

** The eastern U.S. has been in the grip of a freeze since Dec 26, and forecasters have warned of a storm that could slam some areas with blizzard conditions on Thurs

** U.S. shares of warm coat co Canada Goose last up 2.8 pct at $32.69 after registering a record high of $33.43. Trading volume 0.6 x 10-DMA

** Shares of propane home heating fuel co MLP Amerigas on track for 9th day of gains, last up 1.1 at $47.50, had risen roughly 5 pct gain in preceding 8 sessions

** “When you have deep cold spells like this they sell a lot of propane and I’d expect their margins are going to expand because demand is up. Any time you have demand and supply in play they’re pretty good at getting margins,” said Michael Gaugler who covers Amerigas at Janney Montgomery Scott

** Adding “Going into this heating season there was concern about what happens if this is another warm winter.”

** Shares in Suburban Propane last up 2.8 pct at $25.49. Had risen roughly 6.5 pct in preceding six sessions

** Burlington Stores shares down slightly at $122.19. Had risen 1.7 pct since Dec 22, the last trading day before the freeze began. Stock had risen 45 pct in 2017