Diamonds and Dogs
8/26/13
Tyson Foods Inc. (TSN)Tyson Foods is cooked today, down 7.31% at $29.18. The chicken, beef, and pork company saw its shares fall after being downgraded by Merrill Lynch. An analyst at Merrill Lynch downgraded Tyson from buy to neutral. Although no news was cited as to what caused the downgrade; it could have to do with the slowing growth in USDA chick and eggs (4.6% year over year), and the lower forecast for corn and soybean harvest this year. Tyson shares fell $2.30 today due to the downgrade; however shares are still well above their 52-week low of $14.91.
3D Systems Corp. (DDD)
3D Systems is trading in the green today, up 7.18% at $51.92. The 3D printing company saw its shares jump after Citigroup initiated coverage of 3D printing companies. Citigroup opened up coverage of these companies with two buy ratings on 3D Systems and Stratasys. Analyst Kenneth Wong said he believes the 3D printing market "is on the cusp of seeing much broader adoption across more upstream production applications and the consumer end market," which could triple the size of the market within 5 years. He also said, "We also expect to see increased utilization of existing systems as customers start to extend use case beyond small batch digital manufacturing." Shares of 3D Systems jumped to a new 52-week high of $54.08 intraday.
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