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News Breaks
May 5, 2014
07:40 EDTTSNTyson Foods sees FY14 sales about $37B, consensus $35.94B
The company said, "We expect fiscal 2014 sales to approximate $37B as we continue to execute our strategy of accelerating growth in domestic value-added chicken sales, prepared food sales and international chicken production, as well as price increases associated with rising cattle and hog costs." The company sees its Chicken segment to be above its normalized range of 5.0%-7.0% for FY14, for its Beef segment's profitability to be similar to FY13, which was below its normalized range of 2.5%-4.5%, for its Pork segment to be in its normalized range of 6.0%-8.0% and for its Prepared Foods segment to be below its normalized range of 4.0%-6.0% for FY14. The company said about is International segment: "Unless market conditions improve, we will incur losses for the remainder of the year; however the losses in the third and fourth quarters of FY14 should be lower than the losses sustained in the first two quarters of FY14."
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October 17, 2014
09:07 EDTTSNProtein stock pullback on Sanderson comments overdone, says BMO Capital
BMO Capital views yesterday's decline in Sanderson Farms (SAFM), Pilgrim's Pride (PPC) and Tyson Foods (TSN) as an overreaction to Sanderson's comments regarding breast prices falling to year-ago levels for the next four months. BMO notes that breast prices always dip in the fall. Following Sanderson's investor day, BMO said it sees a greater probability of chicken margins remaining at near-record levels in 2015. It keeps an Outperform rating on the stock.
07:39 EDTTSNChicken stock sell-off yesterday overdone, says JPMorgan
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October 16, 2014
15:35 EDTTSNSanderson Farms falls following investor day meeting
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