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May 5, 2014
07:33 EDTTSNTyson Foods reports Q2 adjusted EPS 60c, consensus 63c
Reports Q2 revenue $9.03B, consensus $8.84B. Overall operating margin was 4.0%, with Chicken segment operating margin of 8.2% and Pork segment operating margin of 7.2%.
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August 4, 2015
07:36 EDTTSNTyson Foods story remains intact, buy weakness, says Goldman
Goldman recommends buying Tyson Foods on weakness following Q3 results. The firm said weaker Beef was largely due to transitory export/West Coast port issues in June, combined with a lower near-term slaughter rate. Goldman said Beef weakness will have little impact on FY16 and the ongoing transformation to a more stable branded portfolio remains intact. The firm rates shares a Conviction Buy with a $53 price target.
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 EDTTSNTyson 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 EDTTSNTyson 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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