Diamonds and Dogs
Turkey anyone? Tyson Foods (TSN), the biggest U.S. meat processor, is jumping 9% to a new 52 week high after reporting better-than-expected quarterly numbers thanks to strong demand for chicken products and a boost from its purchase of sausage seller Hillshire Brands. The company also gave upbeat guidance, signaled improvement in its beef business and identified new benefits from its Hillshire acquisition. Tyson also said sales and operating income in the chicken business, its second biggest, grew amid robust demand and lower feed ingredient costs.
GameStop (GME) has stopped going up. Shares of the video game retailer are getting hit after reporting disappointing third-quarter earnings and revenue numbers due to slow software and hardware sales combined with delayed store openings. CEO Paul Raines expects fourth-quarter results to improve due to a solid slate of new video games including Wars Battlefront, Call of Duty Black Ops 3 and Assassin's Creed Syndicate that came out after quarter end. The stock was having a good year up 35% until November. November has not been kind to GameStop or most retailers. The stock initially dropped 15% today, but has since recovered half the losses. Let's hope fourth quarters sales rebound.
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