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Stock Market & Financial Investment News

News Breaks
March 31, 2014
11:24 EDTSAFM, CALM, 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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March 25, 2015
11:58 EDTSAFM, PPCStephens food/agribusiness analyst holds analyst/industry conference call
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08:57 EDTPPC, SAFMJBS S.A. weighing IPO for U.S. unit, Bloomberg reports
The world’s biggest meat producer, JBS S.A. (JBSAY), is mulling plans for an initial public offering of its U.S. unit, according to Bloomberg, citing two people with direct knowledge of the matter. Other publicly traded companies in the meat production space include Hormel Foods (HRL), Pilgrim's Pride (PPC), Sanderson Farms (SAFM) and Tyson Foods (TSN). Reference Link
March 16, 2015
12:45 EDTCALMCal-Maine Foods management to meet with Sidoti
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March 13, 2015
16:42 EDTPPC, SAFMStocks end week lower amid euro slide, Fed rate hike worries
Stocks finished the week lower as worries about the impact of the euro's fall against the dollar, along with continued anticipation of an upcoming rate hike by the Fed and concerns about deflation, weighed on shares. MACRO NEWS: The euro's slide against the dollar continued, causing investors to worry that the trend could have a significant negative impact on the results of U.S. based, multinational companies... Anticipation of an impending interest rate hike continued to impact the market. On Tuesday, outgoing Dallas Fed President Richard Fisher said the central bank should begin to gradually raise rates before the economy reaches full employment to avoid triggering a recession. On Thursday, stocks rose as investors speculated that weak February retail sales data could cause the central bank to delay raising interest rates... An unexpected decline in the producer price index, which was reported on Friday, may have rekindled fears about deflation taking hold in the U.S., weighing on stocks... In China, the government said that industrial production rose less than expected in the first two months of the year. China's exports were reported to surge 15% in the first two months of the year versus the same period a year earlier, but data also indicated that China's imports sank 20% in the first two months of 2015. COMPANY NEWS: Apple (AAPL) provided additional information about its upcoming Apple Watch at a product launch event. Apple Watch will be available on Friday, April 24 to customers in nine countries, including the U.S., with pre-orders beginning April 10. The lowest priced Apple Watch, the 38 mm Apple Watch Sport, will be priced at $349, while the 18-karat gold Apple Watch Edition will be priced starting at $10,000... Embattled floor retailer Lumber Liquidators (LL) updated investors on the impact of a recent critical report from 60 Minutes. In the nine days following the report, same-store sales fell 12.7% versus the same period a year earlier, it reported. The company added that it was not able to provide full-year guidance until it has more time to gauge the impact of consumers' reaction to the report... GM (GM) settled a potential proxy battle with an investment group led by Harry Wilson by agreeing to return more cash to shareholders... Alcoa (AA) agreed to buy RTI International Metals (RTI), which supplies specialty metals and services for several sectors, including aerospace and defense... Credit Suisse (CS) appointed Tidjane Thiam, who is currently Group Chief Executive of Prudential (PUK), as its new CEO... The shares of several chicken producers fell after a possible case of bird flu was identified in Arkansas. Among the chicken producers that declined were Tyson (TSN), which is based in Arkansas, Pilgrim's Pride (PPC), Sanderson Farms (SAFM), and Hormel (HRL)... GNC Holdings (GNC) sank after New York's Attorney General announced that he and three of his colleagues would further investigate the business practices of the herbal supplement industry. INDEXES: For the week, the Dow was down 0.57% to 17,749.31, the Nasdaq fell 1.12% to 4,871.76, and the S&P 500 dropped 0.87% to 2,053.40.
March 12, 2015
10:02 EDTSAFMSanderson Farms says none of its flocks have been affected by avian flu
Commenting on recent reports regarding the discovery of avian influenza in the United States, Sanderson noted that none of the company’s flocks has been affected. “Avian influenza has not been identified in any of the states in which we have operations and live inventory,” said Chairman and CEO Joe Sanderson. “However, we have taken this opportunity to remind all of our contract poultry producers and our employees that the company requires strict adherence to its biosecurity program, and have reminded them of the program’s specific requirements and procedures. Consistent with standard industry practice, all of our flocks are tested for avian influenza before they are processed,” concluded Sanderson.
10:02 EDTSAFMSanderson Farms announces site for new poultry complex in North Carolina
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