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April 16, 2014
12:16 EDTPOST, TSNPost likely to beat out Tyson for Michael Foods, WSJ says
Post Holdings (POST) has emerged as the likely purchaser of Michael Foods and a deal for as much much as $2.5B may be announced tomorrow, said The Wall Street Journal, citing people familiar with the matter. Post's bid beat out competitors that included Tyson Foods (TSN), the report added. Post is up 3% following the report, while Tyson shares are up fractionally in early afternoon trading but off their earlier highs. Reference Link
News For POST;TSN From The Last 14 Days
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January 30, 2015
07:43 EDTTSNTyson Foods sees FY15 revenue about $42B, consensus $42.29B
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07:41 EDTTSNTyson Foods sees FY15 chicken feed costs lower than FY14
Tyson Foods provided the following guidance: "Current USDA data shows an increase in chicken production of 3% in FY15. More recent data indicates a greater increase in supply; however, we believe demand will more than keep pace with the supply change. Based on current futures prices, we expect lower feed costs in FY15 compared to FY14 of approximately $400M. Many of our sales contracts are formula based or shorter-term in nature, but there may be a lag time for price changes to take effect. Based on the strong demand forecast and anticipated favorable pricing environment, we now believe our Chicken segment's operating margin will be above 11% for the remainder of FY15. We expect to see a reduction of industry fed cattle supplies of 4%-5% in FY15 as compared to FY14. Although we generally expect adequate supplies in regions we operate our plants, there may be periods of imbalance of fed cattle supply and demand. For FY15, we believe our Beef segment's profitability will be slightly below FY14. We expect industry hog supplies to increase around 2%-3% in FY15 compared to FY14. For FY15, we believe our Pork segment's operating margin will be in its normalized range of 6%-8%."
07:36 EDTTSNTyson Foods sees FY15 domestic protein production up 1%
Tyson Foods stated, "In FY15, we expect overall domestic protein production to increase approximately 1% from FY14 levels. Grain supplies are expected to increase in FY15, which should result in lower input costs as well as decreased costs for cattle and hog producers. The following is a summary outlook for each of our segments, as well as an outlook on sales, capital expenditures, net interest expense, liquidity and share repurchases. Our accounting cycle results in a 53-week year in fiscal 2015 as compared to a 52-week year in FY14. Accordingly, the outlook is based on a 52-week year."
07:35 EDTTSNTyson Foods reports Q1 chicken sales $2.78B vs. $2.66B last year
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07:32 EDTTSNTyson Foods reports Q1 adjusted EPS 77c, consensus 73c
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January 29, 2015
15:37 EDTTSNNotable companies reporting before tomorrow's open
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January 28, 2015
17:25 EDTPOSTPost Holdings 6.5M share Secondary priced at $47.50
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07:44 EDTTSNTyson Foods volatility elevated into Q1 and outlook
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January 27, 2015
07:07 EDTTSNTyson Foods to invest over $110M in Vienna, GA operations
Tyson Foods is making major improvements to its Vienna, Georgia poultry plant as part of an ongoing plan to maximize efficiencies and meet growing demand for its products. The capital improvement project, valued at more than $110M, will bolster the future of the operation and create more than 500 jobs in Vienna. The project will upgrade parts of the plant and add about 100,000 square feet. Improvements will include new equipment and production lines, as well as processes and technology designed to benefit food safety, quality and workplace safety.
January 26, 2015
16:39 EDTPOSTOn The Fly: Closing Wrap
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12:23 EDTPOSTOn The Fly: Midday Wrap
Stocks on Wall Street opened lower and hit their session lows a short time after the opening bell rang. In addition to some jitters about a vote in Greece, investors were focused on the massive impending winter storm set to hit the Northeast. With weather pundits expecting the snowfall in feet rather than inches, a number of companies have already rescheduled their earnings announcements. The market was mixed at midday, with the Dow and Nasdaq a bit lower and the S&P up fractionally. ECONOMIC EVENTS: In the U.S., the Dallas Fed manufacturing index fell 8.5 points to -4.4 in January, versus the consensus forecast for a reading of 4.0. In Europe, Greece's far-left Syriza party swept to power, renewing concerns about the country's future as a member of the Eurozone. COMPANY NEWS: Today was a "merger Monday," with at least four deals worth more than $1B announced. Energy Transfer Partners (ETP) announced plans to acquire Regency Energy Partners (RGP) in an $18B unit-for-unit transaction that includes assuming $6.8B of net debt and other liabilities. Rock-Tenn (RKT) and MeadWestvaco (MWV) agreed to merge to create a consumer and corrugated packaging company with a combined equity value of $16B. Under the terms of the deal, the resulting ownership of the new company will be approximately 50.1% by MWV shareholders and 49.9% by RockTenn shareholders. AXIS Capital (AXS) and PartnerRe (PRE) announced a "merger of equals" that will create a specialty insurance and reinsurance company with total capital of more than $14B and cash and invested assets of more than $33B. Additionally, cereal maker Post Holdings (POST) agreed to pay $1.15B in cash and stock to buy privately-held MOM Brands, which makes Malt-O-Meal and other breakfast products. MAJOR MOVERS: Among the notable gainers was Universal Display (OLED), which gained 11% after the company announced the signing of a new OLED technology license agreement and material purchase pact with LG Display (LPL). Also higher was Ocwen Financial (OCN), which rose 17% after the California Department of Business Oversight announced a $2.5M settlement with Ocwen Loan Servicing on Friday evening over the firmís failure for more than a year to provide loan information needed by the DBO to assess compliance with state mortgage lending laws. Also of note, Ocwen denied any basis for default under trust agreements that had been alleged by certain hedge funds and other RMBS investors to trustees and master servicers in connection with 119 RMBS trusts, which are serviced by Ocwen. Among the noteworthy losers was Brookdale Senior Living (BKD), which dropped 8% after the company lowered its forecast for FY15 Cash From Facility Operations, citing a combination of lower than expected occupancy and certain higher-than-anticipated insurance reserve adjustments. Also lower following its earnings reports was hard disk-drive maker Seagate (STX), which fell about 9%. INDEXES: Near midday, the Dow was down 1.41, or 0.01%, to 17,671.19, the Nasdaq was down 4.02, or 0.08%, to 4,753.86, and the S&P 500 was up 2.34, or 0.11%, to 2,054.16.
12:05 EDTPOSTPost Holdings files to sell $240M of common stock
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06:46 EDTPOSTPost Holdings to host conference call
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06:14 EDTPOST MOM Brands CEO Chris Neugent to continue to lead brand
MOM Brands announced that it has entered into a definitive agreement for the sale of the company to Post Holdings in a transaction valued at approximately $1.15B. The transaction, which is subject to customary closing conditions, including regulatory approval, is expected to close by Q3. Upon closing, MOM Brands chairman and CEO Chris Neugent will continue to lead the MOM Brands business as president, reporting to Richard Koulouris, who is joining Post Holdings February 9 to lead the combined Post Foods and MOM Brands cereal business.
06:08 EDTPOSTPost Holdings sees MOM Brands acquisition immediately accretive
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06:07 EDTPOSTPost Holdings sees FY15 adjusted EBITDa $540M-$580M
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06:07 EDTPOSTPost Holdings reports preliminary Q1 sales $1.07B, consensus $1.07B
Reports preliminary Q1 EBITDA $126M-$128M. The company said each of Post's businesses performed consistent with Post management's expectations for the first fiscal quarter, except for Post Foods and Michael Foods which outperformed Post management's expectations. The above estimates include approximately three months of financial results from the Company's acquisition of the PowerBar and Musashi brands and related assets on October 1, 2014 and approximately two months of financial results from the Company's acquisition of American Blanching Company on November 1, 2014.
06:07 EDTPOSTPost Holdings to acquire MOM brands for $1.15B
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06:04 EDTPOSTPost Holdings to acquire MOM brands for $1.15B
January 20, 2015
14:29 EDTTSNTyson Foods settles Missouri chemical spill suit for $540K
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