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News Breaks
November 26, 2012
08:47 EDTHRLHormel Foods says achieves $2B in new product sales goal
Hormel Foods announced that it has met its ambitious “Go for $2B by 2012” goal by achieving $2B in total sales from new products created since 2000 by the end of FY12.
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November 17, 2014
10:29 EDTHRLTyson advances after profit beats expectations
Shares of meat producer Tyson Foods (TSN) are climbing after the company reported higher than expected profits and roughly in-line revenue. The company also made optimistic comments about the outlook for its meat products. WHAT'S NEW: Tyson reported fourth quarter earnings per share, excluding some items, of 87c, versus analysts' consensus estimate of 76c. The company's Q4 revenue of $10.11B was roughly in-line with expectations. Tyson provided fiscal 2015 EPS guidance of $3.30-$3.40, versus the consensus outlook of $3.33. However, the meat producer's fiscal 2015 revenue guidance came in at $42B, compared with the consensus outlook of $42.51B. Tyson expects its chicken segment to generate a 7%-9% return on sales over the long-term, but a return on sales of more than 10% in fiscal 2015. Hillshire Brands, which was acquired by Tyson earlier this year, should generate revenue synergies of $4B in fiscal 2015, added Tyson. Meanwhile, demand for beef is "very strong," and pork margins should be good in 2015, the meat producer stated. PRICE ACTION: In late morning trading, Tyson gained 4% to $42.34. Other meat producers also advanced, with Sanderson Farms (SAFM) rising 0.5% to $84.17 and Hormel Foods (HRL) gaining 0.6% to $54.84.
November 10, 2014
12:09 EDTHRLUSDA raises 2014 meat production forecast, lowers 2015
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November 6, 2014
09:59 EDTHRLOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ANSYS (ANSS) downgraded to Hold from Buy at Benchmark Co.... AcelRx (ACRX) downgraded to Neutral from Buy at Mizuho... American Eagle Energy (AMZG) downgraded to Market Perform from Outperform at Northland... American Electric (AEP) downgraded to Market Perform from Outperform at Wells Fargo... Blucora (BCOR) downgraded to Market Perform from Outperform at Barrington... ChemoCentryx (CCXI) downgraded to Market Perform at Cowen... Coeur Mining (CDE) downgraded to Sell from Hold at Deutsche Bank... Cornerstone OnDemand (CSOD) downgraded to Equal Weight from Overweight at Stephens... Cott Corp. (COT) downgraded to Hold from Buy at Stifel... Dassault Systemes (DASTY) downgraded to Neutral from Buy at Citigroup... Duke Energy (DUK) downgraded at Evercore ISI... Enphase Energy (ENPH) downgraded to In-Line from Outperform at Imperial Capital... Fiesta Restaurant (FRGI) downgraded to Neutral from Buy at Longbow... Fox Factory (FOXF) downgraded to Neutral from Outperform at RW Baird... Genworth (GNW) downgraded to Neutral from Buy at Compass Point... Hormel Foods (HRL) downgraded to Market Perform from Outperform at BMO Capital... IntercontinentalExchange (ICE) downgraded to Hold from Buy at Deutsche Bank... Ironwood (IRWD) downgraded to Sell from Hold at Cantor... Lloyds Banking (LYG) downgraded to Market Perform from Outperform at Bernstein... Meridian Bioscience (VIVO) downgraded to Neutral from Outperform at RW Baird... Neenah Paper (NP) downgraded to Neutral from Buy at DA Davidson... Philip Morris (PM) downgraded to Underperform from Outperform at CLSA... ProAssurance (PRA) downgraded to Market Perform from Outperform at Raymond James... Rex Energy (REXX) downgraded to Neutral from Outperform at RW Baird... S&T Bancorp (STBA) downgraded to Neutral from Buy at Guggenheim... Solazyme (SZYM) downgraded to Market Perform from Outperform at Cowen... Sykes Enterprises (SYKE) downgraded to Neutral from Outperform at RW Baird... Tangoe (TNGO) downgraded to Hold from Buy at Stifel... Web.com (WWWW) downgraded to Neutral from Overweight at JPMorgan... WesBanco (WSBC) downgraded to Neutral from Buy at Guggenheim... Wisconsin Energy (WEC) downgraded to Market Perform from Outperform at Wells Fargo.
06:16 EDTHRLHormel Foods downgraded to Market Perform from Outperform at BMO Capital
BMO Capital downgraded Hormel citing rich valuation.

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