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Stock Market & Financial Investment News

News Breaks
March 31, 2014
11:24 EDTPPC, SAFM, CALMCal-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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February 10, 2016
19:33 EDTPPCOn The Fly: After Hours Movers
UP AFTER EARNINGS: HubSpot (HUBS), up 12%... CSRA (CSRA), up 12%... Expedia (EXPE), up 11.5%... Tesla (TSLA), up 9.6%... Hortonworks (HDP), up 8.6%... Skechers (SKX), up 8.8%... Cisco Systems (CSCO), up 7.3%... Centurylink (CTL), up 8.4%... O'Reilly Automotive (ORLY), up 5.2%... Kinross Gold (KGC), up 3.7%... Whole Foods Market (WFM), up 2.5%. ALSO HIGHER: Tripadvisor (TRIP) is up 7.1% and Priceline (PCLN) is up 4.5% after Expedia reported its quarterly results. DOWN AFTER EARNINGS: Pilgrim's Pride (PPC), down 10.9%... Cornerstone OnDemand (CSOD), down 3.6%... Mylan (MYL), down 9.4% after reporting quarterly results and announcing that it will acquire Meda Aktiebolag for $9.9B... Zynga (ZNGA), down 8.9%... iRobot (IRBT), down 6.4%... Prudential (PRU), down 1%... Twitter (TWTR), down 3%... Pioneer Natural (PXD), down 2.4%. ALSO LOWER: Franco-Nevada (FNV), down 4.9% after 11.5M share Spot Secondary priced at $47.85... Continental Resources (CLR), down 2.4% after reporting proved reserves of 1.23B Boe at Dec. 31, 2015.
16:38 EDTPPCPilgrim's Pride raises share repurchase program to $300M from $150M
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16:37 EDTPPCPilgrim's Pride reports Q4 adjusted EPS 26c, consensus 40c
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10:45 EDTCALMNewbrook Capital shorting Cal-Maine Foods, Bloomberg reports
Bloomberg cites the Q4 letter from Newbrook.
February 5, 2016
14:56 EDTCALMAjo LP reports 5.3% passive stake in Cal-Maine Foods
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11:51 EDTPPC, SAFMTyson Foods soars to 52-week high after raising FY16 profit outlook
Shares of Tyson Foods (TSN) are rallying after the company's first quarter earnings per share topped analysts' consensus estimates. The company also raised its profit outlook for fiscal year 2016. WHAT'S NEW: Prior to the market open this morning, Tyson Foods reported Q1 adjusted EPS of $1.15, easily topping analyst's consensus estimates of 89c. However, the company's Q1 revenue of $9.15B missed analysts' estimates of $10.07B, and the company noted that average sales prices decreased in the quarter due in part to higher domestic availability of fed cattle and live hog supplies. Tyson also noted that feed costs declined $60M during Q1. Additionally, the company also raised its share repurchase authorization by 50M shares. GUIDANCE: Looking ahead to FY16, Tyson Foods raised its EPS view to $3.85-$3.95, ahead of analysts' consensus estimates of $3.63. The company's sales view for FY16 was lowered to approximately $37B from its previous estimate of $41B, below analysts' estimates of $39.83B. The company cited declines in beef, pork and feed prices. Tyson Foods sees domestic protein production for the fiscal year up 2%-3% and believes the chicken segment's operating margin will improve to 11% in 2016, up from its previous 10% outlook. Tyson also sees lower future feed costs in FY16 compared to FY15 of approximately $200M based on current futures prices. Further, Tyson sees its beef segment's operating margin "at or above" the low end of its normalized range of 1.5-3% for FY16 and its pork segment's operating margin above its normalized 6%-8% range, up from its previous estimate of within the range. The company also sees synergies of over $500M in FY16 from its acquisition of Hillshire Brands and sees FY16 capital expenditures of $900M. EXECUTIVE COMMENTARY: On the company's earnings conference call, Donnie Smith, the company's chief executive officer, said he believes that "the worst is over" in terms of the cattle supply. While he believes beef will still be expensive to consumers, he noted that customers are spending more at the grocery store. PRICE ACTION: In late morning trading, Tyson Foods rose $5.16, or about 10%, to $57.13 on nearly twice its average daily trading volume. Earlier in the session, the stock made a fresh 52-week high of $58.94. Including the advance, the stock is up approximately 43% over the past 12 months. OTHERS TO WATCH: Other food producers include Hormel Foods (HRL), Sanderson Farms (SAFM) and Pilgrim's Pride (PPC).
January 28, 2016
10:13 EDTCALMOptions with decreasing implied volatility
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