Reuters – Tyson Foods shares fell 10 per cent on Aug. 8 as the U.S. meat processor reported weaker-than-expected quarterly earnings and warned of supply constraints and reduced demand for high-priced beef. The sell-off left shares down about eight per cent for the year and 20 per cent from an all-time high reached in February.
Tyson Foods misses earnings, warns of supply constraints
Beyond Meat shares fall on lower-than-expected revenue forecasts
Reuters – Beyond Meat forecast annual revenue below estimates February 24, as the plant-based business pioneer wrestles with labour and supply chain disruptions and faces stiff competition in the United States. The plant-based meat space has become crowded in recent years with more traditional names, including Tyson Foods and Kellogg entering the fray and offering
Kellogg strike ends as workers approve new labour agreement
Reuters — Workers at Kellogg’s U.S. breakfast cereal plants voted in favour of a new contract that offers better terms for transitional employees and across-the-board wage increases, ending a weeks-long strike, the company said Tuesday. The five-year contract ends the stalemate between the Froot Loops maker and its factory workers in Michigan, Nebraska, Pennsylvania and
Tim Hortons parent to buy Firehouse Subs as other brands drag
Chain's comparable year-to-date sales up 20 per cent against pre-pandemic levels
Reuters — Tim Hortons parent Restaurant Brands International said Monday it will buy sandwich chain Firehouse Subs for US$1 billion, at a time when its popular brands are struggling due to increased competition from rivals launching new menu items. Analysts have said fried chicken sandwich pioneer Popeyes, owned by RBI, has been hurt by McDonald’s
Tyson Foods raises prices, scrambles to keep up with inflation
Reuters – Tyson Foods cannot increase prices for chicken and prepared foods fast enough to keep pace with rising costs for raw materials like grain, chief executive Donnie King said Aug. 9, after the company reported higher-than-expected quarterly earnings. The meat company lifted its 2021 revenue forecast due to strong beef demand as sales of
Cargill, Continental Grain to buy chicken producer Sanderson Farms for $4.5 bln
Reuters – Commodities trader Cargill Inc and agricultural investor Continental Grain Co will buy chicken producer Sanderson Farms Inc for $4.53 billion, the companies said on Monday, at a time when meat prices have been soaring due to strong demand. The deal would see Sanderson Farms, the third-largest poultry producer in the United States, join
Tyson Foods shares drop as quarterly sales miss estimates
Tyson Foods reported lower-than-expected first-quarter sales on Feb. 11. amid weak meat demand at restaurants during the pandemic. The biggest U.S. meat company by sales expects demand will improve as COVID-19 vaccinations prompt people to eat out more often. So far, though, increased meat sales at grocery stores have not been enough to offset the
Cyber-Savvy Farmer
