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Stock Market & Financial Investment News

News Breaks
June 11, 2014
13:45 EDTHSH, PF, TSNPinnacle mulls seeking higher break fee as Hillshire won't back deal, WSJ says
Hillshire Brands (HSH) privately notified Pinnacle Foods (PF) earlier this week that it does not plan to recommend a merger with Pinnacle to its shareholders, and Pinnacle is now considering whether to hold Hillshire to its merger agreement or seek more money to agree to terminate its deal, according to The Wall Street Journal, citing people familiar with the matter. Hillshire's board has previously said that it has not approved or signed any deal to be acquired by Tyson (TSN), which has proposed to acquire it for $63 per share in cash. Reference Link
News For PF;HSH;TSN From The Last 14 Days
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November 17, 2014
10:29 EDTTSNTyson 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.
10:02 EDTPFOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: CyrusOne (CONE) upgraded to Buy from Hold at Stifel... MGIC Investment (MTG) upgraded to Conviction Buy from Buy at Goldman... NuVasive (NUVA) upgraded to Outperform from Market Perform at Wells Fargo... Phillips 66 (PSX) upgraded to Outperform from Neutral at Credit Suisse... Pinnacle Foods (PF) upgraded to Buy from Hold at Deutsche Bank... Rayonier (RYN) upgraded to Outperform from Sector Perform at RBC Capital.. Thoratec (THOR) upgraded to Outperform from Market Perform at Wells Fargo... Volcano (VOLC) upgraded to Outperform from Neutral at Credit Suisse... Progressive Waste (BIN) upgraded to Neutral from Underperform at Macquarie... Clean Harbors (CLH) upgraded to Outperform from Neutral at Wedbush... McGraw Hill Financial (MHFI) upgraded to Buy from Hold at Benchmark Co... Chesapeake (CHK) upgraded to Outperform from Market Perform at Bernstein... American Science & Engineering (ASEI) upgraded to Fair Value from Sell at CRT Capital... Sony (SNE) upgraded to Overweight from Equal Weight at Morgan Stanley.
09:49 EDTTSNTyson Foods says 'very optimistic' about demand in chicken segment
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09:26 EDTTSNTyson says demand for beef 'very strong'
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09:22 EDTTSNTyson Foods trades higher after earnings, levels to watch
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09:22 EDTTSNOn The Fly: Pre-market Movers
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07:35 EDTTSNTyson Foods sees Hillshire acquisition adding $4B in revenues in FY15
The company says "We expect to realize substantial synergies from combining our Prepared Foods business with Hillshire Brands. Synergies are expected to come primarily from operational improvements, purchasing and distribution. As we execute our Prepared Foods strategy, we estimate the impact of the Hillshire Brands synergies, along with the cost savings and the production efficiencies associated with the previously announced plant closures, will positively impact our Prepared Foods segment by more than $225 million in fiscal 2015, and more than $500 million by the third full year of ownership. As we continue to integrate these businesses and deliver the first year synergies, the near-term results for fiscal 2015 are expected to be above the top end of our prior range of 6% despite a projected increase in raw material costs. However, as a result of the improvements we have made in our Prepared Foods business, our acquisition of Hillshire Brands and the significant synergies we expect to realize over the next few years, we believe the long-term profitability of this business should be between 10-12%."
07:35 EDTTSNTyson Foods sees FY15 sales $42B, consensus $42.51B
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07:33 EDTTSNTyson Foods sees FY15 adjusted EPS $3.30-$3.40, consensus $3.33
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07:32 EDTTSNTyson Foods reports Q4 adjusted EPS 87c, consensus 76c
Reports Q4 revenue $10.11B, consensus $10.16B.
06:38 EDTPFPinnacle Foods upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank upgraded Pinnacle Foods to Buy citing market share gains and an improved balance sheet . The firm raised its price target for shares to $37 from $34.
November 14, 2014
08:32 EDTPFPinnacle Foods to acquire Garden Proten International for C$175M
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November 13, 2014
10:01 EDTTSNOn The Fly: Analyst Initiation Summary
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06:44 EDTTSNTyson Foods initiated with an Outperform at RBC Capital
Target $48.
November 12, 2014
10:00 EDTPFPinnacle Foods sees double digit adjusted EPS growth for the year
Sees FY interest expense at slightly about $96M. Sees FY CapEx $120M-$130M. Says "feels good" about productivity. Comments made on the Q3 earnings conference call.
08:18 EDTPFPinnacle Foods narrows FY14 adjusted EPS to $1.71-$1.74 from $1.70-$1.75
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08:18 EDTPFPinnacle Foods reports Q3 Birds Eye Frozen net sales $257.4M
Reports Q3 Duncan Hines Grocery sales $271.2M; Reports Q3 Specialty Foods sales $95.4M.
08:17 EDTPFPinnacle Foods reports Q3 EPS excl items 41c, consensus 41c
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06:53 EDTTSNTyson Foods volatility elevated into Q4 and outlook
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November 11, 2014
15:25 EDTPFNotable companies reporting before tomorrow's open
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