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.
Tyson Foods beef plant closures come as severe drought makes U.S. cattle shortages worse
Tyson Is Shrinking Its Beef Business to Tackle Mounting Losses
Tyson Foods will close or sell three US beef facilities as industry struggles
Tyson Foods to Exit More Beef Plants, with Cattle In Short Supply
Rising Beef Costs Pressure Tyson's Bottom Line
Tyson trims annual profit forecast as tight cattle supplies squeeze beef business
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