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A group of poultry producers, including the world’s largest, have asked a federal judge to dismiss his ruling that they polluted an Oklahoma watershed. Arkansas-based Tyson Foods, Minnesota-based Cargill Inc. and the others say in a motion filed Thursday that evidence in the case is now more than 13 years old. A spokesperson for Oklahoma Attorney General Gentner Drummond did not immediately return a phone call for comment Saturday. “The Court’s findings and conclusions rest upon a record compiled in 2005–2009,” the poultry companies' motion stated. Attorneys for the companies and the state attorney general each said in Thursday filings that mediation had failed.
Persons: Tyson, Judge Gregory Frizzell, Gentner Drummond, Frizzell, ” Frizzell, Cobb Organizations: Tyson Foods, Cargill Inc, U.S, Oklahoma, Tulsa, Cal, Maine Foods Inc, Tyson Poultry Inc, Tyson Chicken Inc, Vantress, Cargill, George’s Inc, George’s, Inc, Peterson Farms Inc, Simmons Foods Inc Locations: Oklahoma, Arkansas, Tyson Foods , Minnesota, Tulsa, Illinois, Cargill Turkey
A 0.25 mg injection pen of Novo Nordisk's weight-loss drug Wegovy is shown in this photo illustration in Oslo, Norway, September 1, 2023. REUTERS/Victoria Klesty/Illustration/File Photo Acquire Licensing RightsLONDON/NEW YORK, Oct 23 (Reuters) - The growth in demand for appetite suppressing anti-obesity drugs like Novo Nordisk's (NOVOb.CO) Wegovy presents opportunities for food manufacturers and the market's initially downbeat reaction may be overdone, investors say. Still, the stock market impact left some food manufacturers "trembling," said John Plassard, senior investment specialist at Nestle investor Mirabaud Group. The uptake in appetite suppressing drugs seems to be a U.S.-led dynamic, said My Nguyen, research analyst at Legal & General Investment Management America. "Elsewhere, trends such as wealthier, more mobile middle classes in emerging countries can support shifts towards snacking and convenience foods."
Persons: Victoria Klesty, Richard Saldanha, Wegovy, Kiran Aziz, Mark Schneider, John Plassard, Brian Frank, Frank, Nguyen, Richa Naidu, Matt Scuffham, Kirsten Donovan Organizations: REUTERS, Walmart, Nestle, Aviva, Novo Nordisk, EY, Industry, Health Sciences, Wellness, Mirabaud, Tyson Foods, Arcos Dorados, Legal, General Investment Management America, Germany's, Investments, Unilever, Coca Cola, Thomson Locations: Oslo, Norway, Victoria, United States, Denmark, Germany, Arda, Ural, U.S
Tyson is investing in insect protein
  + stars: | 2023-10-20 | by ( Danielle Wiener-Bronner | ) edition.cnn.com   time to read: +4 min
New York CNN —Tyson, a major US producer of beef, pork and chicken, is betting on protein that comes from insects. “Today, we’re focused on more of [an] ingredient application with insect protein than we are a consumer application,” said John R. Tyson, chief financial officer of Tyson Foods. A business opportunity“One feature of being in the animal protein business is having to figure out … how to derive value from” waste, Tyson said. Picard helped create the Center for Environmental Sustainability through Insect Farming, a partnership between academia and industry members including Tyson and Protix. “There are more and more startups coming into the space because there’s so much demand for insect protein,” she said.
Persons: New York CNN — Tyson, Tyson, we’re, , John R, Kees Aarts, Aleks, hasn’t, Mars, Tyson doesn’t, , Protix, Christine Johanna Picard, Picard, Kaan Mika, iStockphoto, ” Aarts, Reza Ovissipour Organizations: New, New York CNN, Tyson Foods, Rabobank, Indiana University – Purdue University Indianapolis School of Science, for Environmental Locations: New York, Protix, Netherlands, Springdale , Arkansas, Texas
Tyson Foods workers and activists rallied outside the U.S. meat company's headquarters in Arkansas on Monday to protest child labor and push for improved working conditions in processing plants. Dozens of protesters marched near Tyson's offices in Springdale, Arkansas, with signs saying "Stop child labor" and "Let children be children." Tyson, the biggest U.S. meat company by sales, said it respects people's right to protest peacefully and encourages employees to raise concerns with the company. It did not comment on child labor allegations. The company's code of conduct says suppliers are expected to ensure they do not use child labor.
Persons: Biden, exploitation's, Tyson, Magaly, Licolli, Perdue Organizations: Tyson, Biden Administration, Facebook, U.S . Department of Labor, The Labor Department, Perdue Farms Locations: Arkansas, U.S, Tyson's, Springdale , Arkansas, Guatemala, Tennessee
Beware of these expensive stocks that analysts don't like
  + stars: | 2023-10-17 | by ( Brian Evans | ) www.cnbc.com   time to read: +8 min
For context, the longer-term P/E ratio for the past 12 months of the S & P 500 is about 21 times trailing earnings. That compares to a five-year average P/E ratio of 19.87. The life insurer's 12-month trailing P/E ratio came in at 31.99, compared to its five-year average P/E ratio of 13.62. For context, the longer-term P/E ratio for the past 12 months of the S&P 500 is about 21 times trailing earnings. The life insurer's 12-month trailing P/E ratio came in at 31.99, compared to its five-year average P/E ratio of 13.62.
Persons: JPMorgan's Marko Kolanovic, David Vogt, Tyson Foods, Jefferies, Henry Schein, Michael Bloom, Darla Mercado, Angela Weiss, HSIC Henry Schein, MOH Organizations: Treasury, Federal Reserve, CNBC Pro, IBM, UBS, Premier U.S, Tyson, Prudential Financial, Jefferies, Prudential, CNBC, Hewlett Packard Enterprise, Molina Healthcare, Pinnacle West, Traders, New York Stock Exchange, AFP, Getty, Business Machines Corp, Healthcare, Progressive Corp, Pinnacle West Capital Corp, TSN Tyson Foods, Business Machines Corp IBM, Target Premier U.S, Tyson Foods Inc TSN, Prudential Financial Inc
REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsOct 16 (Reuters) - Tyson Foods (TSN.N) workers and activists rallied outside the U.S. meat company's headquarters in Arkansas on Monday to protest the industry's use of child labor and push for improved working conditions in processing plants. Dozens of protesters marched near Tyson's offices in Springdale, Arkansas, with signs saying "Stop child labor" and "Let children be children." Tyson, the biggest U.S. meat company by sales, had no immediate comment on the protest. The company's code of conduct says suppliers are expected to ensure they do not use child labor. Asked about child labor in meat plants on Monday, the Labor Department said its Wage and Hour Division has investigations open at Tyson and Perdue Farms.
Persons: Arnd, Tyson, Biden, exploitation's, Magaly, Licolli, Perdue, Tom Polansek, Rod Nickel Organizations: Tyson Foods, REUTERS, Biden Administration, Facebook, U.S . Department of Labor, Labor Department, Tyson, Perdue Farms, Thomson Locations: Davos, Switzerland, Arkansas, U.S, Tyson's, Springdale , Arkansas, Guatemala, Tennessee
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: First Solar is doing well and is a strong buy'Mad Money' host Jim Cramer weighs in on stocks including: SolarEdge Tech, Plug Power, Brookfield Infra, Tyson Foods, Keycorp and Monster Beverage.
Persons: Jim Cramer Organizations: SolarEdge, Brookfield, Tyson Foods, Monster Beverage
It's terrible to be clinical after watching horrifying pictures and having real feelings about the tragedy in Israel this weekend. But it is difficult to believe that there will be another embargo when Israel was so clearly not the aggressor. Do you sell American stocks off of something tragic that happens in Ukraine or Israel or to any of our allies? No, it is because we have the ability — good or bad — to focus on what's existential for our country, not for Israel. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: It's, Treasurys, that's, Frito Lay, Will, , Tyson, Jim Cramer's, Jim Cramer, Jim, Pepsi sodas, Brandon Bell Organizations: PepsiCo, Frito, Walmart, TSN, It's, Adobe, Jim Cramer's Charitable, CNBC, Pepsi, Getty Locations: Israel, Kippur, Ukraine, Austin , Texas
Higher chicken prices should improve earnings at top producers Tyson (TSN.N) and Pilgrim's Pride (PPC.O), but will pinch consumers' pockets as they try to save money by turning away from higher-end proteins. Arkansas-based Tyson, which sells all three types of meat, had to deal with a glut of chicken after earning massive profits when meat prices soared during the COVID-19 pandemic. The U.S. government last month trimmed its estimate for 2023 chicken production from August due in part to expectations for lower chick placements. "We've seen some recovery in chicken prices and we've seen some consumer prices start to level off," Tyson CFO John R. Tyson told investors last month. Further increases in chicken prices could threaten demand, said Adam Speck, senior commodity analyst for Gro Intelligence.
Persons: Lucas Jackson, Tyson, Bob Brown, Brown, Donnie King, Arun Sundaram, Sundaram, We've, John R, Adam Speck, Bill Densmore, Tom Polansek, Caroline Stauffer, David Gregorio Our Organizations: New York U.S, REUTERS, Rights, Tyson Foods, U.S . Department of Agriculture, Rabobank, Producers, CFRA Research, Gro Intelligence, Fitch, Thomson Locations: Brooklyn, New, Arkansas, U.S, freezers ., Wilkesboro , North Carolina, Great
[1/3] The word "justice" is seen engraved at the headquarters of the United States Department of Justice (DOJ) in Washington, D.C., U.S., May 10, 2021. "Agri Stats operates its information exchanges to promote total industry profits at the expense of competition," said the DOJ's complaint. Attorney Justin Bernick of law firm Hogan Lovells, which is representing Agri Stats in the DOJ case, said the company denies the allegations. "Agri Stats provides vital benchmarking services that help keep production costs and prices low for consumers," Bernick said in an email. Tyson did not respond to questions about whether the company uses Agri Stats reports or provide comment on the lawsuit.
Persons: Andrew Kelly, Justin Bernick, Hogan Lovells, Bernick, Tyson, Leah Douglas, Barbara Lewis, Leslie Adler Organizations: United States Department of Justice, Washington , D.C, REUTERS, U.S . Department of Justice, Agri, Smithfield Foods, Tyson Foods, DOJ, Thomson Locations: Washington ,, U.S
Earlier this year, the federal government committed to ratcheting up efforts to root out child labor law violations. “There are currently [Wage and Hour Division] investigations open at Perdue and Tyson Foods,” a Department of Labor spokesperson told CNN. “We are conducting a comprehensive third-party audit of child labor prevention and protection procedures including a compliance audit of contractors,” she said. Government agencies have joined together this year to fight child labor law violations, which often impact migrant children. In February, the Departments of Labor and Health and Human Services jointly announced the creation of a task force designed to fight child labor exploitation.
Persons: Perdue, Tyson, , Perdue “, Andrea Staub, ” Staub, Josh Hawley, Donnie King, ” Marty Walsh, Walsh, , Maruf, Nicole Goodkind Organizations: New, New York CNN, Department of Labor, Tyson Foods, New York Times, Perdue, , CNN, Times Magazine, Times, of Labor, Health, Human Services, Packers Sanitation Services, Cargill, Packers Sanitation Locations: New York, Perdue, Virginia, Tyson, Missouri
The logo of Tyson Foods is seen in Davos, Switzerland, May 22, 2022. The Labor Department and Tyson Foods did not immediately respond to a request for comment from Reuters. The Labor Department has also opened investigations into Fayette Industrial and QSI that run cleaning shifts for Perdue and Tyson respectively, the newspaper said. In April the Biden administration sent a letter to meat companies including Tyson and Perdue asking the companies to examine their supply chains for evidence of child labor. The letter was part of an effort by several agencies, led by the Labor Department, to curb the use of illegal child labor across sectors.
Persons: Arnd, Tyson, Perdue, QSI, Biden, Gokul, Daniel Wallis Organizations: Tyson Foods, REUTERS, U.S . Department of Labor, Perdue, New York Times, Labor Department, New York Times Magazine, Reuters, The Labor Department, Fayette Industrial, Tyson, Thomson Locations: Davos, Switzerland, Shore of Virginia, Fayette, Bengaluru
There has been a dramatic increase in reports of child labor — and workplace accidents involving kids. Overall, the Department of Labor said it had seen a 69% increase in illegal child labor over the previous five years. On Saturday, Seema Nanda, the US solicitor of labor, said she is examining whether companies can be held liable for contractors' labor practices. "We are long past the day when brands can say that they don't know that they have child labor in their supply chain," Nanda told the Times. It has also begun a third-party audit of its child labor policies, the spokesperson said.
Persons: Seema Nanda, Nanda, Tyson Organizations: US Department of Labor, New York Times, Perdue, Service, The New York Times Magazine, Tyson Foods, Department of Labor, The Times, Times, Perdue Farms Locations: Wall, Silicon, Wisconsin, Mississippi
Tens of thousands of children in the U.S., spanning all 50 states, work full time, often on overnight shifts and in dangerous jobs. For the past year and a half, my colleague Hannah Dreier has been reporting on the explosion of child labor among young migrants who have recently arrived in this country. The story exposes the human costs of this country’s broken immigration system. Over the past 15 years, entering the U.S. without legal permission has become easier, especially for children. A 2008 law, intended to protect children from harm on the Mexican side of the border, has meant that children can usually enter the country without documentation.
Persons: Tyson, , Hannah Dreier, Marcos Cux, Perdue, Hannah, , Dexter Filkins Organizations: Perdue, Tyson Foods, Government, Times Magazine Locations: U.S, Washington, Virginia, Central America
CEOs are having their worst year in decades
  + stars: | 2023-09-13 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +7 min
Oil prices hit 10-month highGlobal oil prices climbed above $92 a barrel on Tuesday for the first time in nearly 10 months, reports my colleague Matt Egan. Takeaways from Apple’s iPhone 15 eventTuesday was a big day for Apple as the tech titan unveiled its iPhone 15 lineup along with other major updates during its September keynote event. Among the highlights: The iPhone 15 Pro and iPhone 15 Pro Max now feature a titanium casing, allowing the design to be slimmer and thinner than before. The iPhone 15 comes in 5 colors (white, black, pink, green and yellow) and in two sizes: A 6.1-inch screen for the iPhone 15 and 6.7 inches for iPhone 15 Pro. The iPhone 15 will start at $799, and iPhone 15 Pro will start at $999.
Persons: New York CNN — It’s, , Bernard Looney, Looney, Stewart Glendinning, Timothy Baxter, Baxter’s, Baxter, Macy’s, Rosalind Brewer, Neil Saunders, hasn’t, Matt Egan, Brent, Matt Smith, , Clare Duffy, Samantha Murphy Kelly, Max Organizations: CNN Business, Bell, New York CNN, Ferguson Partners, BP, Express, Tyson Foods, Walgreens Boots Alliance, Walgreens, , Americas, AAA, Apple Locations: New York, , Libya, “ Libya, Kpler, Russia, Saudi Arabia
CNN —Former Tyson Foods executive Stewart Glendinning will be the new CEO of clothing company Express, replacing Timothy Baxter, effective September 15, the company announced. “He is a highly accomplished executive who will bring fresh thinking to the Company and our strategies for profitable growth. Baxter’s resignation was announced one day after Express released its second-quarter results, with net sales of its Express brand and its lifestyle line UpWest decreasing 15% compared to last year. Express affirmed Baxter’s departure was not related to the company’s financial position. Baxter, who spent more than 11 years with Macy’s, joined Express in June 2019.
Persons: Stewart Glendinning, Timothy Baxter, ” Mylle Mangum, Stewart, Glendinning, Baxter’s, Neil Saunders, Baxter, Macy’s Organizations: CNN, Tyson Foods, Express, Express Board, Company, New York Stock, ” Express, “ Express, WHP, NYSE, , VF Corporation Locations: womenswear
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Persons: Dow Jones
FILE PHOTO: The company logo for Hormel Foods is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., October 9, 2019. REUTERS/Brendan McDermid/File Photo(Reuters) - Hormel Foods on Thursday cut its annual revenue and profit targets after missing quarterly results as the Skippy peanut butter maker wrestled with lower pork and turkey prices and sluggish demand in key market China. Segment profit from international operations tumbled 50% from a year earlier, with the company citing softness in China and lower branded export demand. Hormel Foods now expects annual adjusted earnings per share between $1.61 and $1.67, compared with $1.70 to $1.82 forecast earlier. The Austin, Minnesota-based company now expects a flat to 4% decline in annual net sales, compared with a rise of 1% to 3% expected earlier.
Persons: Brendan McDermid, Hormel, Tyson Foods Organizations: Hormel, New York Stock Exchange, REUTERS Locations: New York, U.S, China, Austin , Minnesota
The logo of Tyson Foods is seen in Davos, Switzerland, May 22, 2022. While it was not immediately clear what valuation Tyson Foods is seeking for the China poultry business, it has annual sales of about $1.1 billion, one of the people said. Springdale, Arkansas-based Tyson Foods and Goldman Sachs declined to comment. Calls to Tyson Foods' China headquarters in Shanghai went unanswered. In the food industry, U.S. agricultural giant Cargill struck a deal in May to sell its China poultry business to private equity firm DCP Capital for an undisclosed price.
Persons: Arnd, Goldman Sachs, Tyson, Cargill, Hope Liuhe, Kane Wu, Abigail Summerville, Roxanne Liu, Tom Polansek, Jamie Freed Organizations: Tyson Foods, REUTERS, HONG KONG, Goldman, Capital, Reckitt, Primavera Capital Group, Industrial, Thomson Locations: Davos, Switzerland, HONG, China, Springdale , Arkansas, Shanghai, Russia, Ukraine, Mongolia, Nantong, Xiaogan, Hong Kong, New York, Beijing, Chicago
They stayed in Bentonville, Arkansas, for three days and stopped in Fayetteville — about 330 miles from Dallas — for coffee on the way back. Northwest Arkansas, which consists of Benton, Madison, and Washington counties, has become the country's 100th-largest metro area. Northwest Arkansas' plan to bring in new talentCompanies like Walmart, Tyson Foods, and JB Hunt are headquartered in Northwest Arkansas and have been attracting movers for years. The Northwest Arkansas Council tried luring remote tech talent with $10,000 and a mountain bike. Do you work in tech and recently move to Northwest Arkansas?
Persons: relocaters, Nicholas Falldine, Falldine, JB Hunt, John Mayer, Nelson Peacock, Peacock, Chris Thompson, Thompson, he's, Walton's, Keith Myers, jumpstart, , Fayetteville's, Jordan Pandy Organizations: Service, University of Arkansas, NWA, , Companies, Walmart, Tyson Foods, Better, Gardens, Northwest Arkansas Council, The Northwest, Kansas City Star, Austin, Census Bureau Locations: Northwest Arkansas, Wall, Silicon, Dallas, Bentonville , Arkansas, Fayetteville —, Benton , Madison, Washington, Austin, Arkansas, Fayetteville, Silicon Valley, Falldine . Northwest Arkansas, Bentonville, The, The Northwest Arkansas, Los Angeles, Philadelphia, homeownership, Tulsa , Oklahoma, Marina Del, Fayetteville Falldine
Tyson Foods Expands Chicken Plant Closures
  + stars: | 2023-08-07 | by ( Patrick Thomas | ) www.wsj.com   time to read: 1 min
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Persons: Dow Jones Organizations: tsn
Tyson Foods — Shares of the food processing company fell more than 7% after Tyson's fiscal third-quarter report missed estimates on the top and bottom lines. Tyson generated 15 cents in adjusted earnings per share on $13.14 billion of revenue. Analysts surveyed by Refinitiv were expecting 26 cents per share on $13.59 billion of revenue. Sovos Brands — Shares of Rao's parent Sovos Brands' popped 25% in premarket trading after food giant Campbell Soup said Monday it would acquire the pasta sauce maker for $2.33 billion. Campbell will pay $23 per share for the company, which is 27.6% higher than the Sovos Brands' last closing price.
Persons: Tyson, Refinitiv, DaVita, Campbell Soup, Campbell, Wells, Warren Buffett's, BioNTech, it's, Nikola —, Viatris, , Fred Imbert, Samantha Subin, Yun Li, Tanaya Macheel, Jesse Pound Organizations: UBS, Brands, Campbell Soup, Berkshire Hathaway —, KKR —, KKR Locations: Covid
New York CNN —Chicken prices are down. The company reported earnings for the quarter ending July 1 that showed chicken revenue fell about 3.5%. Nathan Papes/Springfield News-Leader/ImagnTyson CEO Donnie King pointed to these market conditions when discussing Tyson’s chicken sales decline during an analyst call Monday. “We’ve had a number of fits and starts from the breeder side to demand,” King said. “We’re on the right path.”Plant closuresIn March, the company announced the closure of one chicken processing plant in Glen Allen, Virginia, and another in Van Buren, Arkansas.
Persons: Nathan Papes, Imagn Tyson, Donnie King, , It’s, Tyson, “ We’ve, ” King, “ We’re, King, “ I’m, ” Tyson Organizations: New, New York CNN, Tyson Foods, Rabobank, Springfield News, CNN, TSN Locations: New York, United States, Missouri, Indiana, Arkansas, Noel , Missouri, hatchings, Glen Allen , Virginia, Van Buren , Arkansas
Three-Stock Lunch: Tyson Foods, Campbell Soup and DaVita
  + stars: | 2023-08-07 | 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 EmailThree-Stock Lunch: Tyson Foods, Campbell Soup and DaVitaEva Ados, Eshares COO, joins ‘Power Lunch’ to discuss three stocks: Tyson Foods, Campbell Soup and DaVita.
Persons: Tyson, Campbell, DaVita Eva Ados Organizations: Tyson Foods
The company earned €168 million in revenue, while analysts polled by Refinitiv expected €672 million. The company reported adjusted net income and revenue that beat expectations for the second quarter. Viatris reported revenue of $3.92 billion, while analysts polled by StreetAccount called for $3.86 billion. PayPal – PayPal stock climbed 2% after launching its first stablecoin, PayPal USD, backed by the U.S. dollar on Monday. Analysts polled by FactSet are forecasting an adjusted 5 cents per share on $534.2 million in sales.
Persons: Tesla, Zach Kirkhorn, Vaibhav Taneja, Taneja, BioNTech, Refinitiv, Tyson, Berkshire Hathaway, Warren, StreetAccount, Andrew Mok, Sovos, Campbell, Sovos Brands, Campbell Soup, Morgan Stanley, Benjamin Swinburne, Oppenheimer, Yun Li, Alex Harring, Samantha Subin Organizations: Refinitiv, Berkshire, Warren, UBS, Sovos, PayPal, U.S, FactSet Locations: Gruenheide, Germany, BioNTech –, stablecoins, U.S
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