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Stock Market & Financial Investment News

News Breaks
March 31, 2014
11:24 EDTCALM, SAFM, PPCCal-Maine Foods hits 52-week high after quarter tops estimates
Shares of egg producer Cal-Maine Foods (CALM) are rallying after the company's third quarter results topped expectations. WHAT'S NEW: This morning, Cal-Maine Foods reported third quarter earnings per share of $1.77 and revenue of $395.5M, compared to expectations of $1.41 and $360.4M, respectively. The company reported Q3 specialty eggs sales increased 9% and that specialty eggs accounted for 17.4% of dozen eggs sold. Cal-Maine CEO Dolph Baker said the company's higher sales reflect both improved volumes through the holiday season and higher average selling prices compared with the third quarter of last year, noting that the egg products segment of the industry has continued to experience strong demand due to the introduction of breakfast items at many quick serve restaurants, as well as increased exports. "We believe the performance of specialty eggs will continue to be a key driver of our growth as we capitalize on favorable consumer demand trends. We remain focused on identifying additional opportunities to market and sell specialty eggs and enhance our product mix, Baker added. PRICE ACTION: In late morning trading, Cal-Maine Foods rose $4.19, or 7.3%, to $61.70 on nearly twice its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week high of $62.21. The stock is up approximately 45% over the past twelve months. OTHERS TO WATCH: Other companies in the chicken products space include Sanderson Farms (SAFM) and Pilgrim's Pride (PPC).
News For CALM;SAFM;PPC From The Last 14 Days
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September 29, 2014
06:34 EDTCALMCal-Maine expects to pay relatively high basis levels of primary feed ingredient
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06:33 EDTCALMCal-Maine Foods: Customer demand for eggs have bene favorable
The company added that it experienced continued strong demand from all the major market segments including retail, egg product and exports. Sales of specialty eggs have continued to trend higher and accounted for 18.8% of total number of shell eggs sold and 26.8% of shell egg sales revenue for the first quarter of fiscal 2015.
06:32 EDTCALMCal-Maine Foods reports Q1 EPS $1.14, consensus $1.17
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September 18, 2014
12:37 EDTSAFMSanderson Farms increases quarterly dividend, authorizes special dividend
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