New User:

-or-
Username:
Password:
Forgot your password?

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
Sign up for a free trial to see the rest of the stories you've been missing.
October 17, 2014
09:07 EDTTSNProtein 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 EDTTSNChicken stock sell-off yesterday overdone, says JPMorgan
Subscribe for More Information
October 16, 2014
15:35 EDTTSNSanderson Farms falls following investor day meeting
Subscribe for More Information

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