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Stock Market & Financial Investment News

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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August 26, 2014
13:03 EDTTSNTyson Foods, Hillshire Brands announce extension of tender offer
Tyson Foods (TSN) and The Hillshire Brands Company (HSH) announced that Tyson has extended the offering period of its previously announced tender offer to purchase all of the outstanding shares of common stock of Hillshire Brands for $63.00 per share in cash, without interest, subject to any withholding of taxes required by applicable law and upon the terms and subject to the conditions set forth in the Offer to Purchase dated July 16. Pursuant to the Agreement and Plan of Merger, dated July 1, by and among Tyson, HMB Holdings and Hillshire Brands, the Offer, which was previously scheduled to expire at 12:00 midnight, New York City time, at the end of Tuesday, August 26, has been extended until 12:00 midnight, New York City time, on Wednesday, August 27, unless it is extended further under the circumstances set forth in the Merger Agreement. All terms and conditions of the Offer shall remain unchanged during the extended period.
12:09 EDTTSNSanderson Farms tumbles after Q3 results fall short of expectations
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August 21, 2014
12:24 EDTTSNHormel hits 52-week high after Q3 results beat estimates
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August 19, 2014
18:19 EDTTSNTyson, Hillshire announce extension of tender offer for shares of Hillshire
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August 14, 2014
06:22 EDTTSNEPA advancing criminal probe into chemical spill at Tyson plant, WSJ reports
The EPA is advancing its criminal probe into May's chemical spill at a Tyson Foods poultry-processing plant in Missouri, the Wall Street Journal reports. Two weeks ago, the EPA served a search warrant at the plant and is seeking documents and records fromt he company as it looks into the plant's discharge of waste from an animal feed supplement into the city's sewers. The chemical spill released high levels of ammonia into a creek and killed at least 100,000 fish. Reference Link
August 13, 2014
07:31 EDTTSNHillshire Brands reports Q4 adjusted EPS 33c, consensus 26c
Reports Q4 revenue $1.1B, consensus $994.1M. As previously announced, on July 1, Hillshire Brands entered into a definitive agreement with Tyson Foods (TSN) under which Tyson will acquire all outstanding shares of Hillshire Brands for $63 per share. On August 12, 2014, each of Tyson and Hillshire Brands received a request for additional information, each often referred to as a “second request,” from the Antitrust Division of the Department of Justice in connection with the proposed acquisition. Each second request was issued pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. The second requests relate only to a very small portion of the combined Tyson/Hillshire Brands business, and the parties are working expeditiously to resolve this matter with the Antitrust Division. Tyson and Hillshire Brands continue to expect that the transaction, which remains subject to customary closing conditions, will be completed by September 27.

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