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Stock Market & Financial Investment News

News Breaks
November 13, 2012
15:40 EDTSAFMSanderson Farms changes plans for second plant location in North Carolina
Sanderson Farms announced that Nash County, North Carolina, will not be the site for a new poultry processing complex. Sanderson Farms, who made this decision together with the officials of Nash County as a result of various timing issues, had previously announced that sites in Nash County had been selected for the location of a new poultry processing complex subject to various contingencies. The company has also announced that construction of the new complex remains on hold pending improvement in market fundamentals, including the supply and price of corn and other feed grains.
News For SAFM From The Last 14 Days
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November 20, 2014
07:24 EDTSAFMGoldman to hold a conference
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November 17, 2014
10:29 EDTSAFMTyson 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 EDTSAFMUSDA raises 2014 meat production forecast, lowers 2015
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