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Stock Market & Financial Investment News

News Breaks
August 21, 2014
12:24 EDTHRL, TSNHormel hits 52-week high after Q3 results beat estimates
Shares of meat and food products company Hormel Foods (HRL) are rising after the firm's third quarter results topped analysts' consensus estimates. The midpoint of Hormel's fiscal 2014 EPS view also beat estimates. WHAT'S NEW: This morning, Hormel reported Q3 EPS of 51c and revenue of $2.28B, beating analysts' consensus estimates of 48c and $2.23B, respectively. The company said its Q3 results reflected strong demand for pork and turkey. Chairman, President and Chief Executive Officer Jeffrey Ettinger said increased sales of value-added products in its Jennie-O Turkey Store, Refrigerated Foods and International & Other segments offset a "challenging" quarter for the company's Grocery Products and Specialty Foods segments. WHAT'S NOTABLE: Looking ahead, Hormel forecast FY14 EPS of $2.17-$2.27, compared to analysts' consensus estimates of $2.19. The company sees a strong end to the year from its Jennie-O Turkey Store segment and from its International & Other and Specialty Foods segments. The impact of cost pressures in Grocery Products segment is likely to continue in the fourth quarter, and pork operating margins are not expected to be as beneficial to Refrigerated Foods, Hormel said. PRICE ACTION: In early afternoon trading, Hormel rose $2.59, or 5.41%, to $50.44 on nearly twice its average daily trading volume. The stock continues to make fresh 52-week highs as the session unfolds. Including today's advance, the stock is up approximately 20% over the past 12 months. OTHERS TO WATCH: Hormel's peer, Tyson Foods (TSN), is up around 0.4% on the session.
News For HRL;TSN From The Last 14 Days
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December 19, 2014
13:43 EDTTSN, HRLUSDA says bird flu found in backyard poultry in Oregon
The United States Department of Agriculture’s Animal and Plant Health Inspection Service confirmed the presence of highly pathogenic H5N8 avian influenza in guinea fowl and chickens from a small backyard poultry flock in Winston, Oregon. The H5N8 virus has not been found in commercial poultry anywhere in the United States and there is no immediate public health concern, as the H5N8 virus has been found in birds in other parts of the world and has not caused any human infection to date, the USDA stated. The Fly notes companies that offer or are developing flu vaccines include BioCryst (BCRX) and Novavax (NVAX). Publicly traded meat producers include Hormel Foods (HRL), Pilgrim's Pride (PPC), Sanderson Farms (SAFM) and Tyson Foods (TSN). Reference Link
December 10, 2014
12:06 EDTTSN, HRLUSDA lowers 2014 meat production forecast
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09:53 EDTTSNTyson sees capturing over $500M in Hillshire synergies by end year three
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09:49 EDTTSNTyson Foods reiterates temporary halt on China expansion plans
09:44 EDTTSNTyson Foods targeting consistent growth, less volatile earnings
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09:25 EDTTSNTyson Foods lists 'rapid de-leveraging,' acquisitions among cash priorities
Tyson Foods said its priorities for cash include rapid de-leveraging from $1B+ cash flows and $500M+ from sale of Latin American operations; acquisitions to fulfill its growth strategy; and returning cash to shareholders through share repurchases and dividends.
09:19 EDTTSNTyson Foods repeats FY15 adjusted EPS view $3.30-$3.40, consensus $3.41
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December 9, 2014
12:29 EDTTSNTyson Foods volatility at low end of range into investor meeting
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