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SFD

Smithfield Foods Inc.

6/18/2013, 3:06 AM ET

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Friday, January 4, 1:52 PM The FDA is proposing two new food safety rules for foodborne illness prevention. The first rule would require food makers to develop a formal plan for preventing their food products from causing foodborne illness, and for correcting any problems that might arise. The second proposes enforceable, scientific-based safety standards for the production and harvesting of produce on farms. 2 Comments [Consumer, Commodities]
Thursday, December 6, 2012, 7:13 AM More on Smithfield Foods (SFD): Fresh Pork sales down 4.3% Y/Y to $1.237B, while Packaged Meats revenue was flat. Strong growth at Armour, Farmland, John Morrell and Kretschmar brands with new products contributing. International operating profit rose 136%. (PR) Comment! [Earnings, Consumer]
Thursday, December 6, 2012, 7:03 AM Smithfield Foods (SFD): FQ2 EPS of $0.61 beats by $0.18. Revenue of $3.23B (-2.6% Y/Y) misses by $80M. (PR) Comment! [Earnings]
Thursday, December 6, 2012, 12:05 AM Notable earnings before Thursday’s open: HRB, LULU, SFD, TD, TITN Comment! [Earnings]
Wednesday, December 5, 2012, 5:30 PM Notable earnings before Thursday’s open: HRB, LULU, SFD, TD, TITN Comment! [Earnings]
Monday, November 19, 2012, 10:26 AM Chicken sellers Smithfield Foods (SFD +3.1%), Sanderson Farms (SAFM +2%), and Pilgrim's Pride (PPC +1%) move higher after Tyson Foods (TSN +7.5%) shows strong profits in its chicken business. Looking forward, Tyson expects its chicken segment to remain profitable in 2013 despite the challenge of higher grain costs. Comment! [Consumer, On the Move]
Thursday, September 13, 2012, 10:49 AM Disney (DIS +0.9%) faces legal action over claims that ABC News misled consumers with its coverage of the "pink slime" additive that's routinely added to meat products. A South Dakota-based meat processor - The Dakota Dunes - filed a lawsuit asking for $1.2B in damages. (pink slime timeline) Comment! [Consumer]
Tuesday, September 4, 2012, 6:53 AM More on Smithfield Foods (SFD): Packaged meats operating profit +29% Y/Y to $130.6M on slightly lower sales. Positive hog production in Eastern Europe helped lift profits in international segment. Though hog production will be negatively affected by Midwest drought, grain hedges should keep raising costs below industry average. Forecasts margins at the high end of the normalized range with 2-3% volume growth in fiscal 2013. Shares -2.3% premarket. (PR) Comment! [Earnings, Consumer]
Tuesday, September 4, 2012, 6:06 AM Smithfield Foods (SFD): FQ1 EPS of $0.40 misses by $0.04. Revenue of $3.09B (flat% Y/Y) misses by $60M. (PR) 1 Comment [Earnings, Consumer]
Tuesday, September 4, 2012, 12:05 AM Notable earnings before Tuesday’s open: CPB, SFD Comment! [Earnings]
Monday, September 3, 2012, 5:30 PM Notable earnings before Tuesday’s open: CPB, SFD Comment! [Earnings]
Friday, August 24, 2012, 12:53 PM Corn and soybean futures have reached record highs this month on the CBOT, but the short term outcome is more likely to be muted on the price of meat, according to the latest USDA food report. The price of meat, poultry and fish will rise 3% to 4%, one-half of a percentage point less than estimated last month, as the price of corn - its main feed source - surged, pushing ranchers to send animals to slaughter sooner and temporarily boosting supplies. 1 Comment [Commodities]
Wednesday, August 8, 2012, 3:46 PM Fears that the U.S. drought will drive up food prices next year are mostly unfounded, WSJ's Josh Mitchell writes, calculating the average consumer will spend only an extra $2.73/month. Food accounts for only ~14% of consumers’ daily living expenses, and given that prices for other items are falling or subdued, overall inflation likely will remain muted. (also) 9 Comments [U.S. Economy, Consumer]
Tuesday, August 7, 2012, 9:10 AM Morgan Stanley reduces Smithfield Foods (SFD) to Underweight with its stance that weak consumer demand and corn prices hitting $8 will cut into results. Shares of SFD are 9.9% off their summer highs, set before the Midwest drought took hold. Comment! [Consumer]
Monday, August 6, 2012, 7:58 AM Even before a widespread drought hit the U.S. this summer, the nation's cattle herd was shrinking to low levels and pushing prices up. Now prices look set for another run higher as Tyson (TSN) warns on periods of imbalance of fed cattle supply in 2013. While sellers such as SFD, HRL, SAFM, and PPC may get away with passing on higher prices to consumers, will restaurants chains such as McDonald's (MCD), Wendy's (WEN), and Chipotle (CMG) have to absorb the higher input costs? 3 Comments [Consumer]
Wednesday, August 1, 2012, 1:40 PM Food price increases resulting from the Midwest drought that ravaged crops might not be as steep as some expect, according to some analysis. Fruit and vegetables crops are relatively stable due to irrigation, while corn ingredients typically only make up a a small portion of many common packaged food items. For the time being beef and milk prices could actually dip as farmers sell off cattle that they can't feed effectively, though next year consumers could take the hit when the dwindling number of cattle directly affects beef and dairy prices. 7 Comments [Consumer, Commodities]