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Stock Market & Financial Investment News

News Breaks
July 28, 2014
11:58 EDTJBSAY, HSH, TSN, PPC, CALMPoultry leaders Tyson, Cal-Maine diverge after quarterly reports
Shares of two leaders in the poultry industry, Tyson Foods (TSN) and Cal-Maine Foods (CALM), are moving in opposite directions following their respective quarterly reports. Tyson, a food production company specializing in chicken and other proteins, were up after the company reported better than expected third quarter revenues, while shares of egg provider Cal-Maine are cracking after the company said it was "cautiously optimistic" about having a good start to full-year 2015. TYSON: Tyson Foods' adjusted Q3 earnings per share was 75c, which fell below analysts' consensus of 78c. The food provider's Q3 revenue was $9.68B, which exceeded analysts' consensus of 9.47B. In terms of guidance, Tyson guided fiscal year 2014 revenue to grow to $38B, compared to analysts' estimates of $36.85B. Tyson expects FY15 EPS growth of at least 10%. Analysts are expecting the company's FY15 EPS to be $3.16. The company sees FY15 revenue of $42B, above the analysts' consensus of $38.75B. Tyson Foods said that it expects fiscal year 2015 domestic protein production to increase 1% and also expects grain supplies to increase during the fiscal year, which should result in lower input costs as well as decreased costs for cattle and hog producers. U.S. chicken production is expected to increase around 2% in FY15 compared to FY14. The company expects lower feed costs for chicken in FY15 and said the Chicken segment's operating margin should be at or above 10% in FY15. Tyson also announced that has reached a definitive agreement with to sell its poultry businesses in Mexico and Brazil to Pilgrim's Pride (PPC), whose majority owner is a wholly owned subsidiary of JBS SA (JBSAY). On its earnings conference call, Tyson backed its FY14 EPS view of "at least" $2.78, versus analysts' estimates of $2.91, and called 2015 earnings guidance "conservative." The company said the Hillshire Brands (HSH) acquisition is on-track to close in Q4 and sees synergies reaching $225M in 2015. CAL-MAINE: Meanwhile, Cal-Maine reported fourth quarter EPS of $1.30, which surpassed the consensus forecast of $1.15 from the two analysts covering the stock, according to First Call. The company's Q4 revenue was $371.6M, which was over $46M higher than the revenue it reported a year ago in the same period. Cal-Maine reported that it produced 195.63M total dozen eggs in Q4 and sold 249.44M total dozen eggs in the quarter. The company said its results reflect strong demand for shell eggs throughout the year from all the major market segments including retail, egg product and exports. Looking ahead to its FY15, Cal-Maine said that it is "cautiously optimistic" about a good start to the upcoming year. The company said current USDA projections for harvested acres and yields for both crops should be favorable for end users and help reduce feed costs in FY15. ANALYST REACTION: Sidoti downgraded Cal-Maine to Neutral from Buy due to valuation. The firm maintained its price target of $87 on the shares. PRICE ACTION: Near midday, shares of Tyson Foods rose $1.70, or 4.3%, to $41.24 and CalMaine foods fell $4.70. or 6%, to $74.59.
News For TSN;CALM;PPC;JBSAY;HSH From The Last 14 Days
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August 3, 2015
16:45 EDTTSNOn The Fly: Top stock stories for Monday
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12:30 EDTTSNOn The Fly: Top stock stories at midday
Stocks on Wall Street were mixed at midday following a busy morning of economic data that included manufacturing readings from around the globe. Also making headlines was the resumption of stock trading in Greece's, whose key index plunged more than 20% upon its opening after being closed throughout July as the country brokered a new financial assistance deal with its creditors. ECONOMIC EVENTS: In the U.S., a news service broke the Institute for Supply Management's embargo early and the group's manufacturing report was released before the opening bell instead of after it, as expected. ISM's manufacturing index for July came in at 52.7, below the consensus forecast for a reading of 53.5. Markit's manufacturing index for July came in at 53.8, matching expectations. Personal income rose 0.4% in June, versus expectations for a gain of 0.3%, while consumer spending rose 0.2%, matching expectations. Construction spending edged up 0.1% in June, missing expectations for spending to have grown 0.6%. In China, the official purchasing managers' index released by the statistics bureau fell to a five month low of 50, compared with the previous month's 50.2 reading, where economists polled by Reuters forecast it to hold. The Caixin China PMI, which focuses more on small and medium sized firms, fell to a two year low of 47.8, which was lower than the preliminary reading of 48.2 for July. In Europe, Markit's final Eurozone manufacturing PMI of 52.4 beat a preliminary estimate of 52.2, but ticked down a hair from June's 52.5 reading. Greece's Athens Stock Exchange reopened for the first time since being closed on June 29 and the Athex composite plunged more than 20% in early trading upon the resumption of trading. COMPANY NEWS: General Motors (GM) reported its U.S. sales jumped 6.4% in July compared to the same month of last year, topping expectations. FCA US, the parent of the Chrysler and Jeep brands, reported U.S. sales increased 6.2% in July and Ford's (F) sales growth of 5% last month compared to last year also beat the consensus forecast. Of note, GM said the month indicates annual light vehicle sales of 17.6M, above the company's 2015 estimate for U.S. industry sales of 16.5M-17M, while FCA US projected U.S. industry sales figures for July at an estimated 17.8M units Seasonally Adjusted Annual Rate, or SAAR. MAJOR MOVERS: Among the notable gainers was Lexicon Pharmaceuticals (LXRX), which jumped 59% after the company reported that a Phase 3 study evaluating the efficacy and safety of telotristat etiprate for carcinoid syndrome patients with metastatic neuroendocrine tumor met its primary endpoint. Wedbush analyst Liana Moussatos raised her price target for Lexicon to $19 from $17 after the report, saying the trial results were "impressive and transforming." Also higher was Frontier Communications (FTR), which gained 9.7% after reporting its second quarter results and raising its FY15 free cash flow view to $825M-$865M from $785M-$825M. Among the noteworthy losers was Tyson Foods (TSN), which fell 9% after the meat producer reported weaker than expected third quarter results and cut its full-year guidance, citing ongoing headwinds facing its beef business. INDEXES: Near midday, the Dow was down 78.84, or 0.45%, to 17,611.02, the Nasdaq was up 1.73, or 0.03%, to 5,130.01, and the S&P 500 was down 2.82, or 0.13%, to 2,101.02.
10:52 EDTTSN, PPCTyson retreats after guidance cut for beef business headwinds
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09:23 EDTTSNOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Perion Network (PERI), up 10.2%... Array Biopharma (ARRY), up 5.6%... Camtek (CAMT), up 4.9%... Frontier Communications (FTR), up 7%. ALSO HIGHER: Lexicon Pharmaceuticals (LXRX), up 32.2% after TELESTAR Phase 3 study met primary endpoint... OraSure Technologies (OSUR), up 7.5% after receiving FDA emergency use authorization for ebola rapid diagnostic test... Omeros (OMER), up 7.1% after receiving marketing authorization for Omidria from EC... Ford (F), up 1.3% after reporting July U.S. sales. DOWN AFTER EARNINGS: Tyson Foods (TSN), down 8.8%. ALSO LOWER: LinnCo (LNCO), down 4.9% after being downgraded to Sector Perform from Outperform at RBC Capital... Linn Energy (LINE), down 5% after being downgraded to Sector Perform from Outperform at RBC Capital.
09:18 EDTTSNTyson Foods sees FY15 CapEx $900M, FY16 CapEx $900M-$950M
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09:17 EDTTSN, HSHTyson Foods expects to capture $300M in synergies in Hillshire deal
09:16 EDTTSNTyson Foods sees FY16 EPS growth of 10%, consensus $3.73
Expects EPS growth of 10% going forward following FY16 as well.
09:16 EDTTSNTyson Foods says synergies ahead of expectations and growth across most segments
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07:58 EDTTSNTyson Foods drops after results
Shares are down over 7.9% at time of writing in the pre-market, last at $40.82. At that price next support is at $39.43. Resistance is at $41.71.
07:50 EDTTSNTyson Foods sees FY16 domestic protein production up about 3%
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07:47 EDTTSNTyson Foods sees FY16 revenue approximately $41B, consensus $41.84B
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07:46 EDTTSNTyson Foods reports Q3 chicken segment revenue $2.76B vs. $2.83B last year
Reports Q3 beef segment revenue $4.31B vs. $4.19B last year. Reports Q3 pork segment revenue $1.21B vs. $1.77B last year. Reports Q3 prepared foods segment revenue $1.81B vs. $901M last year. Reports Q3 international segment revenue $244M vs. $365M last year.
07:45 EDTTSNTyson Foods reports Q3 adjusted EPS 80c, consensus 92c
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07:40 EDTTSNTyson Foods lowers FY15 EPS view to $3.10-$3.20 from $3.30-$3.40
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July 29, 2015
17:03 EDTPPCPilgrim's Pride announces new $150M share repurchase program
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17:02 EDTPPCPilgrim's Pride reports Q2 EPS 94c, consensus 89c
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