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☆ 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.

☆ You Can’t Throw the Bums Out if You’ve Voted With Your Feet
▼ + stars: | 2023-04-10 | by ( Allysia Finley | ) www.wsj.com time to read: 1 min

There’s a great deal of ruin in a nation, as Adam Smith once observed. Brandon Johnson ’s victory in last week’s Chicago mayoral race is a reminder that no matter how bad things get, they can always get worse. Its high crime and taxes are driving away businesses like Citadel, Boeing and Tyson Foods. Despite some of the highest property taxes in the country, its pension funds are in a death spiral. A net 175,000 people left Cook County between 2020 and 2022.

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 to Close Two Chicken Plants, Laying Off 1,700 Workers
▼ + stars: | 2023-03-14 | by ( Patrick Thomas | ) www.wsj.com time to read: 1 min

Tyson Foods Inc. plans to shut down two of its poultry plants and lay off nearly 1,700 workers as it tries to improve its chicken operations that produce about one-fifth of the U.S. supply. Tyson notified the nearly 1,000 employees at its Van Buren, Ark., chicken plant on Monday that it would close on May 12, the company said. About 700 workers at Tyson’s plant in Glen Allen, Va., also found out on Monday that its plant would close in May, according to the local United Food and Commercial Workers International Union, which represents employees at the Virginia plant.

☆ 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 Foods to lay off 1,700 workers, close two chicken plants
▼ + stars: | 2023-03-14 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

A package of Tyson Foods Inc. chicken is arranged for a photograph in Tiskilwa, Illinois. Tyson Foods will close two chicken plants in May, affecting nearly 1,700 employees. "While the decision was not easy, it reflects our broader strategy to strengthen our poultry business by optimizing operations and utilizing full available capacity at each plant," Tyson said in a statement to CNBC. The company's plants in Van Buren, Arkansas, and Glen Allen, Virginia, will close May 12. Coca-Cola offered voluntary buyouts to North American workers, while PepsiCo cut jobs in its Frito-Lay and North American beverage units.

☆ 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.

☆ Nestle, Tyson and other food giants bet on air fryer boom to grow sales
▼ + stars: | 2023-03-05 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

An Air Fryer for sale at Kroger Marketplace in Versailles, Kentucky, U.S., on Tuesday, Nov. 24, 2020. Adam Graves, president of Nestle U.S.'s pizza and snacking division, said the company is leaning into the air fryer boom through its frozen food brands, specifically to offer customers more value. Other Nestle products, like Hot Pockets, now include air fryer cooking instructions alongside directions for heating up in the microwave and oven. Tyson is also a third of the way through adding air fryer directions to its packaging for its frozen prepared foods. The air fryer directions are boosting Tyson's brand favorability, according to Hall, who cited recent brand health data.

☆ Stay away: These stocks are expensive and most vulnerable to a consumer slowdown, Wolfe Research says
▼ + stars: | 2023-02-22 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Consumer spending is likely to turn negative following "a series of rolling recessions," and there are several vulnerable stocks that investors may want to steer clear of in the months ahead, according to Wolfe Research. Most of them have highly volatile gross margins, leaving them vulnerable to disappointing consumer spending. It's followed in volatility by Peloton , with gross margin volatility of 31%. Its gross margin volatility is 13%. DraftKings and Las Vegas Sands are also near the top in terms of gross margin volatility, at 26% and 25%, respectively.

☆ 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.

☆ Here are Tuesday's biggest analyst calls: Apple, Disney, Meta, Alphabet, Tyson Foods, Target & more
▼ + stars: | 2023-02-07 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Here are Tuesday's biggest calls on Wall Street: Citi reiterates Disney as buy Citi said it's bullish heading into Disney earnings Wednesday. Goldman Sachs downgrades Tyson Foods to neutral from buy Goldman downgraded the poultry company after its earnings report on Monday and said it sees cyclical headwinds for Tyson. Jefferies reiterates Target as buy Jefferies said it sees "comp sales upside" ahead for Target. Wells Fargo initiates iRhythm Technologies as overweight Wells initiated the digital health care cardio company and said it sees upside and share gains. Goldman Sachs reiterates Pinterest as buy Goldman said it's standing by shares of Pinterest after its earnings report on Monday.

☆ Tyson Foods Profit Declines as Beef Price Drops
▼ + stars: | 2023-02-06 | by ( Patrick Thomas | ) www.wsj.com time to read: 1 min

Tyson Foods said it expects improved results later this year. Tyson Foods Inc. said its profit fell in its fiscal first quarter from a year ago as costs climbed and beef prices fell. The Springdale, Ark.-based company posted a profit of $316 million, or 88 cents a share, in the period ended Dec. 31, compared with $1.12 billion, or $3.07 a share, a year earlier. Analysts polled by FactSet had expected Tyson to report $1.35 a share in profit.

☆ Tyson Foods Profit Tumbles as Costs Rise and Demand Weakens
▼ + stars: | 2023-02-06 | by ( Patrick Thomas | ) www.wsj.com time to read: 1 min

Tyson said consumers are spending more on its less expensive food products. Tyson Foods Inc. reported its biggest percentage drop in quarterly profit in over a decade, signaling how higher costs and slackening demand are squeezing the U.S. meat industry. Executives of the Springdale, Ark., company, the largest U.S. meat processor by sales, said that meat supplies have been growing, while consumers shift their purchasing in response to a softening U.S. economy. Meatpackers meanwhile continue to pay more for transport, animal feed and plant worker wages, cutting into profits.

☆ Stocks making the biggest moves midday: Dell, On Semiconductor, PayPal, Catalent & more
▼ + stars: | 2023-02-06 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

The PayPal logo displayed on a smartphone screen with a stock market graphic in the background. On Semiconductor — Shares gained more than 1% after the company reported earnings Monday that beat Wall Street estimates. The company posted $2.1 billion in revenue for the quarter, a 13.5% increase from $1.85 billion in revenue last year. Dell — The tech company saw its shares fall 3.7% after it announced its plans to lay off 5% of its workforce. PayPal — Shares of the payments company fell more than 3% after Raymond James downgraded the stock to market perform from outperform.

☆ Stocks making the biggest moves premarket: Tyson Foods, PayPal, Children's Place and more
▼ + stars: | 2023-02-06 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Tyson Foods – Shares of the food processing giant suffered a 6% drop in premarket trading after the company reported weaker-than-expected results for the first quarter. Analysts expected $1.34 per share in earnings and revenue of $13.52 billion, according to Refinitiv. PayPal — Shares of the payments company fell 2.6% in premarket after Raymond James downgraded the stock to market perform from outperform. Lyft — Shares of the ride-hailing company fell about 2% in premarket trading after Lyft was downgraded to hold from buy at research firm Gordon Haskett. Energizer Holdings — The battery maker's stock fell 6% after revenue and earnings for the recent quarter fell short of expectations, according to analysts surveyed by FactSet.

[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.

☆ 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%.

☆ 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.

☆ 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.

☆ Stock futures slide to start week with more earnings and a Powell speech ahead
▼ + stars: | 2023-02-05 | by ( John Melloy | ) www.cnbc.com time to read: +1 min

U.S. stock futures were lower to start trading for the new week as investors awaited more earnings and an important speech from Federal Reserve Chairman Jerome Powell. The S&P 500 is up more than 7% for 2023. S&P 500 futures were lower by 0.3% and Nasdaq-100 futures fell by 0.4%. We are about halfway through fourth-quarter earnings season for the S&P 500 and the results have not been great. The S&P 500 just formed a bullish "Golden Cross" pattern and touched a 5-month high last week above the 4,100 level.

☆ Disney, Pepsi, Uber Set to Report During Lackluster Earnings Season
▼ + stars: | 2023-02-04 | by ( Dia Gill | ) www.wsj.com time to read: 1 min

PepsiCo Inc., Uber Technologies Inc. and Walt Disney Co. are among the companies slated to report earnings in the coming week, during an earnings season marked by cooling demand and throttled profits. Investors will also hear from the food makers Kellogg Co. and Tyson Foods Inc., the healthcare companies CVS Health Corp. and AbbVie Inc., as well as the private-equity firms KKR & Co. and Apollo Global Management Inc. Other companies reporting earnings include PayPal Holdings Inc., S&P Global Inc. and Chipotle Mexican Grill Inc.

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