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Search resuls for: "Arun Sundaram"


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☆ Tyson Foods posts surprise loss, cuts 2023 revenue forecast as beef, pork prices fall
  + stars: | 2023-05-08 | by ( Granth Vanaik Tom Polansek | Granth Vanaik | Tom Polansek | ) www.reuters.com   time to read: +2 min
May 8 (Reuters) - Tyson Foods Inc (TSN.N) posted a surprise second-quarter loss and cut its full-year revenue forecast on Monday as prices for its beef and pork have declined, sending the U.S. meatpacker's shares tumbling 9% before the bell. CEO Donnie King, who is seeking to cut costs, said meat markets are challenging and Tyson is focused on improving profit margins. The company lowered its forecast for fiscal year 2023 sales to $53 billion to $54 billion from $55 billion to $57 billion. Average sales prices of beef and pork fell 5.4% and 10.3%, respectively, in the quarter ending April 1. Sales volumes in Tyson's beef segment also fell 3%, leaving the unit's overall sales down 8.3% at $4.62 billion.
☆ Amazon's cloud warning rattles investors
  + stars: | 2023-04-28 | by ( Aditya Soni | ) www.reuters.com   time to read: +2 min
April 28 (Reuters) - Growth in Amazon.com Inc's (AMZN.O) lucrative cloud business is slowing and investors are worried. Shares fell 4% on Friday as Amazon's cloud business slowed in April after posting its weakest quarterly growth since the company began breaking out the unit's sales in 2015. The results are in contrast to those of Microsoft Corp's (MSFT.O) Azure cloud business, which grew at 27%. Still, analysts were largely upbeat about Amazon's cloud prospects, with about 17 raising their price targets on the stock, compared with the 10 that lowered their view. "Amazon is the clear market share leader in cloud computing and they will remain that way," Sundaram said.
☆ Tyson Foods to shut two US chicken plants with nearly 1,700 workers
  + stars: | 2023-03-14 | by ( Tom Polansek | ) www.reuters.com   time to read: +3 min
CHICAGO, March 14 (Reuters) - Tyson Foods Inc (TSN.N) will close two U.S. chicken plants with almost 1,700 employees on May 12, the company said on Tuesday. Tyson will shut a plant in Glen Allen, Virginia, with 692 employees and a plant in Van Buren, Arkansas, with 969 employees, according to a statement. "The current scale and inability to economically improve operations has led to the difficult decision to close the facilities," Tyson said. Shuttering plants is difficult but justified as Tyson seeks to improve performance, said Arun Sundaram, senior equity analyst at CFRA Research. Tyson had about 124,000 U.S. employees as of Oct. 1, including 118,000 workers at non-corporate sites like meat plants, regulatory filings show.
☆ US retailers' lure cash-strapped customers with products under $5
  + stars: | 2023-02-28 | by ( Siddharth Cavale Uday Sampath Kumar | Siddharth Cavale | Uday Sampath Kumar | ) www.reuters.com   time to read: +3 min
NEW YORK, Feb 28 (Reuters) - Retailers have a new sweet spot: products that cost $3 to $5. Target said on Tuesday that it would be stocking its shelves with more products priced under $10 as the retailer tries to appeal to more cost-conscious consumers dealing with once-in-a-generation inflation. This comes a little more than a year after dollar store chain Dollar Tree (DLTR.O) said it would launch more discretionary products including seasonal items and apparel priced between the $3 and $5. Many, including high-income households, are buying more store-label brands as budgets stretch in the face of higher interest rates. Target said it plans to launch or expand more than 10 owned brands, adding thousands of new products.
☆ Can't figure out this economy? Walmart, Home Depot are having trouble, too
  + stars: | 2023-02-26 | by ( Tim Mullaney | ) www.cnbc.com   time to read: +7 min
Joe Raedle | Getty Images News | Getty ImagesIf you think the economy is confusing right now, consider how baffling it must look to Home Depot and Walmart. Home Depot said consumer spending is holding up, but that it expects a flat sales-growth year overall, with declining profits. Friday's PCE showed consumer spending rose more than expected as prices increased, jumping 1.8% for the month compared to the estimate of 1.4%. It wasn't a good week for the retail sector or consumer stocks, either. "The outlook for sustained consumer spending growth remains," wrote consumer analyst Jason English.
☆ Beyond Meat's upbeat 2023 revenue forecast, cost controls lift shares
  + stars: | 2023-02-23 | by ( Granth Vanaik | ) www.reuters.com   time to read: +2 min
Feb 23 (Reuters) - Beyond Meat Inc (BYND.O) on Thursday forecast annual revenue slightly above estimates and doubled down on cost controls at a time when persistently high inflation was slowing demand for its faux meat products, sending its shares up over 13% after the bell. The company's net revenue fell 21% to $79.9 million in the quarter ended Dec. 31 from a year earlier, but still beat analysts expectations of $75.7 million. Net loss for Beyond Meat narrowed to $66.9 million, or $1.05 per share, in the fourth quarter. In October, Beyond Meat had said it was targeting cash flow positive operations within the second half of 2023. Reporting by Granth Vanaik in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.
☆ Pandemic-favorite Etsy beats revenue estimates on demand for bags, gifts
  + stars: | 2023-02-22 | by ( Granth Vanaik | ) www.reuters.com   time to read: +2 min
Feb 22 (Reuters) - Etsy Inc (ETSY.O) on Wednesday beat estimates for quarterly revenue on steady demand for bags, party products and personalized gifts on its online marketplace, sending the company's shares up more than 5% in extended trading. "Shoppers are coming to us more frequently and spending more with Etsy," said Chief Executive Officer Joshua Silverman on a post-earnings call, adding the company is continuing to build the "Etsy habit." Net revenue in the quarter ended Dec. 31 jumped 12.6% to $807.2 million for Etsy, compared with analysts' expectation of $751.8 million, according to Refinitiv. For the current quarter ending March, Etsy expects GMS to be in the range of $2.95 billion to $3.15 billion. The company forecast revenue between $600 million and $640 million for the January-March period, compared with analysts' expectation of $621.6 million.
☆ Walmart sees lower 2023 performance in time of economic uncertainty
  + stars: | 2023-02-21 | by ( Siddharth Cavale | ) www.reuters.com   time to read: +5 min
"There's still a lot of trepidation and uncertainty with the economic outlook. "So, that makes us cautious on the economic outlook because we simply don't know what we don't know." Home Depot (HD.N) also forecast weaker-than-expected annual profits on Tuesday as soaring prices hit demand for home-improvement products. They want the allure of savings and Walmart provides that," said McNew, whose firm holds about 350,000 Walmart shares. Walmart signs are displayed inside a Walmart store in Mexico City, Mexico March 28, 2019.
☆ Warren Buffett is missing out on this year’s market comeback
  + stars: | 2023-02-19 | by ( Paul R. La Monica | ) edition.cnn.com   time to read: +8 min
But the Oracle of Omaha has missed out on this year’s stock market rally. Buffett, in fact, has promoted that idea to investors many times, arguing that most individual stock pickers will not be able to beat the market. And to his credit, that usually pays dividends: Berkshire stock was up 3% last year in a down market. “High rates of inflation create a tax on capital that makes much corporate investment unwise,” Buffett said in his 1980 shareholder letter to Berkshire investors. Investors will get several more clues about consumer spending this week when several top retailers report earnings.
☆ Snacking is one of the fastest growing grocery categories, reports CFRA's Arun Sundaram
  + stars: | 2022-12-20 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSnacking is one of the fastest growing grocery categories, reports CFRA's Arun SundaramArun Sundaram from CFRA, joins 'Closing Bell' to discuss the reasons behind his General Mills downgrade, CFRA's top pick for packaged food in 2023 and deterioration in the pet food sales segment profit margins.
☆ Amazon's business model struggles in an inflationary and recessionary environment, says BNP's Slowinski
  + stars: | 2022-12-07 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmazon's business model struggles in an inflationary and recessionary environment, says BNP's SlowinskiStefan Slowinski, BNP Paribas analyst, and Arun Sundaram, CFRA analyst, join 'The Exchange' to debate the bear and bull case for trading Amazon stock.
☆ Amazon's operating margins could nearly double in 2023, says CFRA's Arun Sundaram
  + stars: | 2022-10-28 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmazon's operating margins could nearly double in 2023, says CFRA's Arun SundaramArun Sundaram of CFRA joins 'Closing Bell' to discuss slows in top-line growth, Amazons capital investment in to its fulfillment services and supply chain network, and Amazon Web Services customers cutting costs.
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