CHICAGO (Reuters) - U.S. meat giant Tyson Foods Inc reported a larger quarterly profit on Monday as better results at its beef and pork units, due in part to strong pork exports, more than offset losses in its chicken and its prepared-foods businesses.
Tyson Foods, Inc. (TSN) is down 8.16% as of 11:54 AM EDT, after the company announced results for the second quarter of its fiscal 2014 (1QFY14) today, missing earnings estimates and beating on revenues. Although the company raised its sales guidance for FY14, it failed to uplift investors’ confidence because earnings expectations by the company remained unchanged. In the last three months, the stock price had appreciated 20.4%.
Tyson Foods, Inc. (TSN), the largest meat producer in the US, is expected to announce earnings for the third quarter of its 2014 fiscal year (3QFY14; ended June 29) on Monday, before the market opens. The company is in the business of distributing and marketing chicken, beef, pork, and prepared foods.
strong>By Delian Naydenov:Tyson Foods (TSN) is the largest protein processor in the United States and its common stock offers a good investment opportunity. Many of the company's fundamentals and valuation measures are attractive compared to similar publicly traded companies.
Tyson Foods, Inc. (TSN) increased 2.10% yesterday and closed in at $40.83. The growth is attributable to an upgrade in the target price by JPMorgan Chase & Co. (JPM) on October 2.
The investment firm revised up its target price assigned to Tyson Foods stock from $42 to $49.
By Chris Bailey:The beef-related story that many investors will be reading about today involves the creation of the world's first lab-grown hamburger in a venture backed by Google (GOOG) co-founder Sergey Brin.