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April 12 (Reuters) - A U.S. judge on Tuesday approved a $75 million settlement between Smithfield Foods Inc and a class of consumers who accused the pork producer of conspiring to restrict supply in order to keep prices artificially high. Pork consumers last year settled with Smithfield rival JBS SA for $20 million. The judge in a separate order on Tuesday awarded nearly $25 million in legal fees to the plaintiffs firms representing the consumer class. The consumer class attorneys said in a court filing in January that they'd spent more than 37,000 hours pursuing antitrust claims over four years. The case is In re Pork Antitrust Litigation, U.S. District Court, District of Minnesota, No.

WASHINGTON, April 12 (Reuters) - Meat companies should examine their supply chains for evidence of child labor, the Biden administration said in a letter sent to top meatpacking companies on Wednesday. The letter is part of an effort by several agencies, led by the Department of Labor, to curb the use of illegal child labor across sectors. In February, the Labor Department found that more than 100 children had been illegally employed by Packers Sanitation Services Inc, a company that contracts with meat-packers to clean slaughterhouses. Agriculture Secretary Tom Vilsack asked meat and poultry companies in the letter to determine whether illegal child labor is being used in their supply chains and to adopt stronger child labor standards for subcontractors. The Department of Agriculture is exploring enforcement mechanisms that would allow stronger oversight of child labor use in food supply chains and plans to take future steps on the issue, an agency spokesperson said.

☆ U.S. Tyson Foods workers strike at Arkansas chicken plant set to close
▼ + stars: | 2023-04-10 | by ( Tom Polansek | ) www.reuters.com time to read: +2 min

CHICAGO, April 10 (Reuters) - About 150 employees of a Tyson Foods Inc (TSN.N) chicken plant in Arkansas went on strike on Monday for better treatment before the company shuts the facility, an organizer said. Tyson plans to close the plant in Van Buren, Arkansas, on May 12, eliminating jobs for 969 non-union employees, as it seeks to improve performance in its chicken business. Some employees quit after Tyson announced the plant would close, leaving more work for fewer employees, Licolli said. Tyson has offered to transfer plant workers to another facility in Texas, with compensation for relocating, but many do not want to uproot their lives or their families, Licolli said. Tyson said in an email that it is offering employees relocation support to work at other facilities in Arkansas as well.

☆ Tyson Foods workers strike at US chicken plant set to close
▼ + stars: | 2023-04-10 | by ( Tom Polansek | ) www.reuters.com time to read: +2 min

CHICAGO, April 10 (Reuters) - About 150 employees of a Tyson Foods Inc (TSN.N) chicken plant in Arkansas went on strike on Monday for better treatment before the company shuts the facility, an organizer said. Tyson plans to close the plant in Van Buren, Arkansas, on May 12, eliminating jobs for 969 employees, as it seeks to improve performance in its chicken business. Some employees quit after Tyson announced the plant would close, leaving more work for fewer employees, Licolli said. Tyson has offered to transfer plant workers to another facility in Texas, with compensation for relocating, but many do not want to uproot their lives or their families, Licolli said. Tyson also received pushback over a plan to shut a chicken plant in Glen Allen, Virginia, with 692 employees.

☆ The beef supply is shrinking. That means meat isn't going to get much cheaper
▼ + stars: | 2023-04-05 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +3 min

A contraction in beef supplies “has been coming for a while,” said David Anderson, a professor in Texas A&M University’s agricultural economics department. Beef supplies are shrinking after farmers sold off cattle in response to drought and high costs. The “big unknown is going to be consumer demand.”The beef supply tends to grow and shrink in roughly 10-year cycles, said Lance Zimmerman, senior beef analyst for the North American market with Rabobank. “If that’s the case, beef prices may be steadier.”And with food inflation stubbornly high, consumers are already cutting back on certain items, including beef. If demand remains strong, “we may see some higher beef prices,” towards the fall and later, Bernt said.

☆ Report: McDonald's tells corporate employees to work from home for layoffs
▼ + stars: | 2023-04-03 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +2 min

New York CNN —McDonald’s instructed corporate employees to work from home this week in anticipation of layoffs, according to a report from the Wall Street Journal. McDonald’s has 150,000 employees in its company-owned locations and offices globally, with 70% of those positions outside of the United States, according to the Journal. McDonald's CEO said in January that job cuts were coming. Zbigniew Bzdak/Chicago Tribune/Tribune News Service/Getty ImagesIn January, McDonald’s CEO Chris Kempczinski said in a memo to staff that job cuts are coming. Meta (META), owner of Facebook, Instagram and WhatsApp, said in March that it would make a second round of job cuts.

San Diego State will play UConn in the NCAA men's basketball national championship game on April 3. ETHow to watch the NCAA national championship game in the USYou can watch the NCAA men's basketball national championship game on CBS or Paramount Plus. If you don't already have access to CBS via antenna or cable TV, Paramount Plus is the cheapest way to watch the NCAA national championship game. How to watch the NCAA national championship game in CanadaThe NCAA men's national championship game will air on TSN networks in Canada; TSN offers monthly streaming passes for $20, four month passes for $49.96, and annual passes for $199.90. How to watch the NCAA national championship game in the UKIn the UK, you can watch the NCAA men's national championship game with ESPN Player, which costs £10 a month or £70 a year.

The women's national championship game is April 2, while the men's championship is April 3. CBS and Paramount Plus will air the men's Final Four; the women's Final Four is on ESPN and ESPN+. How to watch NCAA Final Four in the USThe men's March Madness 2023 tournament enters the Final Four round on April 1, and the championship game follows on April 3. How to watch NCAA Final Four in the UKIn the UK, you can watch the men's and women's Final Four with ESPN Player, which costs £10 a month or £70 a year. March Madness NCAA Final Four 2023 TV scheduleBrian Rothmuller /Icon Sportswire / Getty ImagesMen's NCAA Final Four scheduleRound Date and time Channels/Service #5 San Diego State versus #9 Florida Atlantic April 1, 6:09 p.m.

The planned closure of the plant has left dozens of Virginia chicken growers scrambling to find new buyers in a region with few other options. Tyson alerted Virginia farmers by phone on March 13 and later by mail that it will shut its Glen Allen plant on May 12, according to three poultry farmers who supply the plant. The USDA, which enforces the PSA, told Reuters it is "closely monitoring" Tyson's planned plant closure. 'WE'RE DONE'Under normal circumstances, Tyson supplies farmers with chicks, while farmers assume the costs of land and chicken houses. On Monday, about 20 Tyson farmers and local government officials gathered in a fire station in Burkeville, Virginia, and raised concerns about Tyson's short timeline for closure of the plant, attendees 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.

☆ Tyson Foods to shut two U.S. chicken plants with nearly 1,700 workers
▼ + stars: | 2023-03-14 | by ( Tom Polansek | ) www.reuters.com time to read: +1 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. The closures show that the biggest U.S. meat company by sales is still trying to figure out how to improve its chicken segment that has struggled for years. Tyson Foods 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," the company said. The United Food and Commercial Workers union, which represents employees at Tyson's plant in Virginia, slammed the decision to close the facility.

☆ Tyson is laying off nearly 1,700 poultry plant workers
▼ + stars: | 2023-03-14 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +2 min

New York CNN —Tyson is laying off nearly 1,700 workers as it closes two poultry plants in an effort to boost profits. In this case, Tyson is pointing to weakness in its poultry operations. Tyson, a major meat and poultry processor, mentioned problems in its chicken business during a February analyst call discussing the company’s most recent quarterly results. Tyson announced Wes Morris as the new head of its poultry business in January. Morris, a long-time employee of the company, left Tyson in 2017 and had since consulted for its poultry business.

☆ Investors need to embrace these stocks that we love
▼ + stars: | 2023-02-12 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +8 min

I’ve typically done this stock picking feature in early to mid February as a Stocks We Love type of story, pegging it to Valentine’s Day. The restaurant stocks in particular could do well. Inflation is obviously still a concern for big consumer brands. Consumer prices rose 6.5% over the past 12 months through December, down from a 7.1% pace in November. Up nextMonday: Earnings from TreeHouse Foods (THS), Avis Budget (CAR), FirstEnergy (FE), IAC (IAC) and PalantirTuesday: US CPI; Japan GDP; UK employment report; earnings from Coca-Cola, Asahi Group, Marriott (MAR).

☆ Goldman Sachs downgrades Tyson Foods, says poultry stock's trajectory is uncertain after latest earnings
▼ + stars: | 2023-02-07 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Analyst Adam Samuelson downgraded the food producer to neutral from buy after Tyson's latest quarterly report showed significant underperformance across the company — particularly its chicken segment. The company's reported earnings per share of 85 cents for its first fiscal quarter. "Put together, we see a more uncertain trajectory for Chicken segment profitability into FY24 and have less confidence in the business returning to previously articulated 6-8% normalized margins," the analyst added. Tyson shares fell 4.6% on Monday after the company announced its quarterly earnings. TSN 1Y mountain TSN in past 12 months —CNBC's Michael Bloom contributed to this report.

☆ Three-Stock Lunch: TSN, LMT and NVDA
▼ + stars: | 2023-02-06 | 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: TSN, LMT and NVDAEva Ados, ERShares CIO, joins 'Power Lunch' to discuss three stocks trading today: Tyson, Lockheed Martin, and Nvidia.

[1/2] A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in New York City, New York, U.S., July 19, 2021. Money market participants see the Fed's terminal rate to settle above 5% by May followed by rate cuts in September. More than 69% of the S&P 500 firms have reported results above expectations, according to Refinitiv. Overall, analysts still expect quarterly earnings of S&P 500 firms declining 2.8%. All of the 11 major S&P 500 indexes were in the red with the real-estate sector (.SPLRCR) slumping 1.5%.

☆ Real and fake meat share problems
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +2 min

TORONTO, Feb 6 (Reuters Breakingviews) - Pain in the fake meat market is starting to spread to the real one. That’s still much better than Beyond Meat (BYND.O), which isn’t even booking an operating profit at this point. But the two companies share a few of the same problems that aren’t going away. With prices along the supply chain going up, including for transportation, consumers are making other choices. Forgoing meat – no matter the consistency – is a real problem.

☆ Tyson Foods misses quarterly sales estimates
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +1 min

Feb 6 (Reuters) - Tyson Foods Inc (TSN.N) missed Wall Street estimates for quarterly revenue on Monday, pinched by falling beef prices and lower volumes in its pork segment. While soaring prices of beef, chicken and pork boosted sales at Tyson last year, the company reported an 8.5% drop in average sales price of beef in the reported quarter. The fall in beef prices dragged Tyson's sales at a time demand is already taking a hit from penny-pinched Americans reducing their spending on pricier meat cuts. The U.S. meatpacker's sales rose to $13.26 billion in the first quarter from $12.93 billion a year earlier. Analysts on average had expected sales of $13.52 billion, according to IBES data from Refinitiv.

☆ Futures fall with eyes on earnings
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +2 min

Companies reporting quarterly results this week include Walt Disney Co (DIS.N) and PepsiCo Inc (PEP.O), while Tyson Foods Inc (TSN.N), Lowe's Cos Inc (LOW.N), Activision Blizzard Inc (ATVI.O) and Cummins Inc (CMI.N) report results later in the day. Halfway through the earnings of the S&P 500 companies, 69.6% have reported results above expectations, according to Refinitiv. Overall, analysts still expect quarterly earnings of S&P 500 firms declining 2.7%. Job growth in the U.S. accelerated sharply in January, with nonfarm payrolls surging by 517,000 jobs, well above an estimate of 185,000. ET, Dow e-minis were down 237 points, or 0.7%, S&P 500 e-minis were down 37 points, or 0.89%, and Nasdaq 100 e-minis were down 144.25 points, or 1.14%.

☆ Did investors learn nothing from last year’s market meltdown?
▼ + stars: | 2023-02-05 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +6 min

Shares of movie theater chain AMC (AMC) have soared nearly 65% so far in 2023, and AMC (AMC)’s companion preferred stock (which trades under the ticker APE as a nod to the nickname AMC (AMC) fans have given themselves on social media) has more than doubled. So did investors learn nothing from last year’s market meltdown? I don’t agree with this market rally in meme stocks,” said Erik Ristuben, chief investment strategist with Russell Investments. Another strategist agrees this recent rally for meme stocks and other speculative bets may not end well. If they’re upbeat about spending, that could keep the rally in consumer stocks going.

☆ A flurry of earnings reports, Fed rate hike, signs of a bull market
▼ + stars: | 2023-02-04 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Earnings season continues next week, with Club holdings Linde (LIN), Emerson Electric (EMR) and Walt Disney (DIS) all set to report. Similarly, shares of Meta Platforms (META) have surged over 20% since CEO Mark Zuckerberg reassured investors Wednesday evening that 2023 would be the technology giant's "year of efficiency." The bull case is further supported by continued signs inflation is easing, a still-robust job market and the breadth of market-buying activity since the start of the year. Lastly on Wednesday, the Fed's Federal Open Market Committee raised the federal funds rate by 25 basis points, in line with expectations. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

But to reach its ultimate destination - supermarket shelves - cultivated meat faces big obstacles, five executives told Reuters. California-based cultivated meat company GOOD Meat already has an application pending with the FDA, which has not been previously reported. Regulatory approval is just the first hurdle for making cultivated meat accessible to a broad swath of consumers, executives at UPSIDE, Mosa Meat, Believer Meats, and GOOD Meat told Reuters. But it will take hundreds of millions of dollars for GOOD Meat, for example, to build bioreactors of the size needed to make its meat at scale, Tetrick said. But cultivated meat companies have the advantage that they can claim their product is real meat, Tetrick said.

As the storm took shape over the Great Lakes on Thursday, a weather phenomenon known as a bomb cyclone was likely to develop from a "rapidly deepening low-pressure" system, the National Weather Service (NWS) said. The cyclone could spawn snowfalls of a half inch (1.25 cm) per hour and howling winds from the Upper Midwest to the interior Northeast, producing near-zero visibility, the weather service said. "It's dangerous and threatening," President Joe Biden said at the White House, urging Americans with travel plans to not delay and to set off on Thursday. Hundreds of Texans died in February 2021 after the state's power grid failed amid wintry storms, leaving millions without electricity. Greg Carbin, chief of forecast operations at the NWS Weather Prediction Center in Maryland, said freezing or below-freezing cold would bisect central Florida, with temperatures about 25 degrees below normal.

☆ Deep freeze grips U.S. as winter 'bomb cyclone' looms ahead of holiday weekend
▼ + stars: | 2022-12-23 | by ( Steve Gorman | ) www.reuters.com time to read: +4 min

Numbing cold intensified by high winds was expected to extend as far south as the U.S.-Mexico border. The NWS map of existing or impending wintry hazards, stretching from border to border and coast to coast, "depicts one of the greatest extents of winter weather warnings and advisories ever," the agency said. The bomb cyclone could unleash snowfalls of a half inch (1.25 cm) per hour driven by gale-force winds, cutting visibility to near zero, the weather service said. Power outages were expected from high winds, heavy snow and ice, as well as the strain of higher-than-usual energy demands. The weather service said relief from the deep freeze was in sight for the northern Rockies and High Plains, where the arctic blast first materialized on Thursday.

☆ Stocks making the biggest moves premarket: CarMax, Micron, Under Armour and others
▼ + stars: | 2022-12-22 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines before the bell:CarMax (KMX) – The auto retailer's stock slumped 12.7% in the premarket after its quarterly profit and revenue fell well short of estimates. Micron Technology (MU) – Micron shares fell 2.9% in premarket trading after the chip maker reported a wider-than-expected quarterly loss and revenue that fell short of Wall Street forecasts. Tyson fell 1% in premarket action. Global Business Travel Group (GBTG) – The American Express spin-off was rated outperform in new coverage at Evercore ISI, which expects the business travel platform to benefit from its leading position in the industry and from a rebound in business travel recovery. Global Business Travel Group rose 1.6% in premarket trading.

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