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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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March 25, 2015
11:58 EDTTSN, HRLStephens food/agribusiness analyst holds analyst/industry conference call
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08:57 EDTHRL, TSNJBS 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 24, 2015
07:50 EDTTSNTyson Foods shares should be bought, says BB&T
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March 16, 2015
16:25 EDTTSNTyson Foods backs FY15 EPS $3.30-$3.40, consensus $3.43
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07:16 EDTTSNConsumer Analyst Group of Europe to hold a conference
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