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Tyson Foods Inc. cut its outlook for the fiscal year again as it sees more pressure from its beef segment.
Tyson Foods is cutting beef-processing capacity as the US cattle herd nears a five-decade low driving up livestock costs and contributing to persistent losses in beef business.
Tyson Foods Inc. said it would close several additional beef plants, in the latest sign of the US beefpacking industry’s restructuring amid a prolonged US cattle shortage.
Bristol-Myers Squibb (SQB) shares are surging on news AstraZeneca (AZN), whose shares are lower, is exploring an acquisition of Bristol-Myers Squibb.
Tyson Foods Inc. cut its annual profit outlook, signaling that any relief for the US beef industry from a historic cattle shortage is still a long way off.
Shares of meatpackers Tyson Foods Inc. and JBS NV surged after the US said it would resume cattle shipments from Mexico, easing a domestic shortage that has led to higher costs for their animals.
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