Ml Macadamia Orchards LP News

The stocks of Alexander & Baldwin and ML Macadamia Orchards each gained 3 percent Monday to lead Hawaii stocks, which followed the broader markets to close higher.

LP reported a first-quarter loss of $8,000, compared to a profit of $49,000 for the same quarter last year.

The Dow Jones Industrial Average was up 113.90 points, or 0.87 percent, to close at 13,204.62, while the Nasdaq gained 20.98 points, or 0.69 percent, to close at 3,050.61.

LP plans to raise as much as $20 million for an expansion plan by selling additional shares in the company to some 3,153 existing partners.

LP, which grows and sells raw macadamia nuts to other processors and food companies, including the Hershey Co., plans to get into the business of processing and selling its own packaged food products.