New User:

-or-
Username:
Password:
Forgot your password?

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
Sign up for a free trial to see the rest of the stories you've been missing.
October 17, 2014
11:14 EDTPPCPilgrim's Pride recovers some lost ground, levels to watch
Subscribe for More Information
09:21 EDTSAFMSanderson Farms weakness a buying opportunity, says Cleveland Research
Cleveland Research recommends taking advantage of weakness in Sanderson Farms due to weaker breast meat prices and raised estimates to reflect lower feed costs and higher wing pricing forecasts. Shares are Buy rated.
09:07 EDTPPC, SAFMProtein stock pullback on Sanderson comments overdone, says BMO Capital
BMO Capital views yesterday's decline in Sanderson Farms (SAFM), Pilgrim's Pride (PPC) and Tyson Foods (TSN) as an overreaction to Sanderson's comments regarding breast prices falling to year-ago levels for the next four months. BMO notes that breast prices always dip in the fall. Following Sanderson's investor day, BMO said it sees a greater probability of chicken margins remaining at near-record levels in 2015. It keeps an Outperform rating on the stock.
07:39 EDTPPC, SAFMChicken stock sell-off yesterday overdone, says JPMorgan
Subscribe for More Information
October 16, 2014
15:35 EDTPPC, SAFMSanderson Farms falls following investor day meeting
Subscribe for More Information
October 13, 2014
11:57 EDTSAFMSanderson Farms to host investor day
Subscribe for More Information
09:31 EDTCALMCal-Maine Foods downgraded to Neutral from Buy at Sidoti

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use