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Smithfield Foods Inc.

5/20/2013, 3:41 AM ET

Quote & Headlines Market Currents StockTalk

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Friday, May 10, 3:32 PM Smithfield Foods (SFD +1.5%) trades higher after corn futures tumble on word that the corn harvest in the fall could come in well-above expectations. Another company to watch is Archer Daniels Midland (ADM +0.1%) which buys corn to produce ethanol. (USDA report) Comment! [Consumer, On the Move]
Monday, May 6, 10:14 AM Where's the beef? Shares of Tyson Foods (TSN -5.3%) stumble and take a few peers down with it after the company misses profit estimates. Consumers opted for lower-margin chicken products in Q1 and there's some concern the trend will continue as beef prices hit a consumer breaking point. Sector watch: Hormel (HRL) -1.6%, Smithfield Foods (SFD) -1.2%, Hillshire Brands (HSH) -0.9%. Comment! [Consumer, On the Move]
Tuesday, April 16, 7:29 AM China's poultry sector has already recorded losses of 10B yuan ($1.6B) in the two weeks since an avian flu struck the region, according to government estimates. Poultry consumption in eastern China is down 50% with consumer exercising caution. So far, sales for imported chicken haven't increased from U.S. producers such as Tyson Foods (TSN), Pilgrim's Pride (PPC), and Smithfield Foods (SFD) - but analysts see the U.S. companies filling a supply void in the near future if the epidemic abates. Comment! [Consumer, Global & FX]
Monday, April 8, 12:31 PM Meat stocks stumble a bit with a new report tying consumption of red meat to heart disease getting some discussion. Decliners: Smithfield Foods (SFD) -2.8%, Tyson Foods (TSN) -2.2%, Hormel Foods HRL -0.5%, Sanderson Farms (SAFM) -0.8%. 2 Comments [Consumer, On the Move]
Monday, April 1, 4:05 PM Smithfield Foods (SFD -1.6%) says a spinoff of its hog production business would dull its competitive edge. Last month, the company was encouraged by a major shareholder to consider splitting itself up but after hiring Goldman Sachs to help it review strategic options, says "separation of hog production" is probably not in the company's best interest. Comment!
Tuesday, March 26, 8:58 AM Lobbyists from meat companies won a last-minute amendment to a budget bill last week which will keep food safety inspectors on the job this summer. Though spending cuts will continue to pose a threat to the meat industry (SFD, HRL, TSN, HSH), for the time being it will be business as usual. A disturbing horse meat scandal in Europe is believed to have helped tip sentiment toward keeping meat inspectors on the busy side through the summer. Comment! [Consumer]
Monday, March 25, 10:09 AM Smithfield Foods (SFD +3.9%) trades higher after Goldman Sachs was hired to explore strategic options. A plan to split the the company into three separate business could unlock value of as much as $48-a-share, according to the rosiest of analyst estimates. Expect Goldman to explore selling Smithfield's hog farms and processing plants to an Asia-based company. Comment! [Consumer, On the Move]
Friday, March 22, 5:44 PM After-hours top gainers, as of 5:15 p.m.: SFD +6%. REGI +6%. GTI +4%. FIVE +4%. KWK +4%.
After-hours top losers: IDIX -10%. TTS -6%. SVU -4%. MTG -3%. ARNA -2%. 3 Comments [On the Move]
Friday, March 22, 5:11 PM Smithfield Foods (SFD) has hired Goldman Sachs to explore its options, after Continental Grain, an agribusiness company which controls about 6% of the company, urged the hog producer to break up. Goldman will assist in analyzing and reviewing strategic options including instituting a cash dividend, bringing on new board members and executives with new skills, or potentially even splitting into three companies. Shares +3% AH. Comment! [M&A, On the Move]
Friday, March 15, 1:26 PM Not horsing around: Congress wants to revive a ban on horse meat processing in the U.S. to prevent companies from opening slaughterhouses to export horse meat. A more interesting development developing from the meat scandal in Europe is the prospect that beef suppliers (TSN, SFD, Cargill) in the U.S. could see a boost in output. 1 Comment [Consumer]
Friday, March 8, 10:37 AM Smithfield Foods (SFD +3.8%) trades higher as activist shareholders kick around the idea of splitting up the company. Execs from Smithfield were also under fire during yesterday's earnings conference call on the topic. (transcript) Comment! [Consumer, On the Move]
Friday, March 8, 7:39 AM Smithfield Foods (SFD) says it will review a letter from Continental Grain suggesting the company split itself into three separate units. Look for more shareholders to jump on the bandwagon with Continental over its proposal. The analysts at Hedgeye say it makes sense and would be "value enhancing." Comment! [Consumer]
Friday, March 8, 6:38 AM The board of Smithfield Foods (SFD) received a letter from Continental Grain urging the company to consider a split into three separate units. Continental - which holds a 6% stake in Smithfield Foods - also asked the hog producer to consider paying out a regular cash dividend. Comment! [Consumer]
Thursday, March 7, 6:01 AM Smithfield Foods (SFD): FQ3 EPS of $0.69 beats by $0.18. Revenue of $3.6B (+3% Y/Y) beats by $0.07B. (PR) Comment! [Earnings, Breaking News, Consumer]
Thursday, March 7, 12:05 AM Notable earnings before Thursday’s open: ARQL, CIEN, CLDX, CNQ, CNSL, DANG, FGP, FLY, IQNT, JRCC, KR, NAV, NGPC, SFD, SRPT Comment! [Earnings]
Wednesday, March 6, 5:30 PM Notable earnings before Thursday’s open: ARQL, CIEN, CLDX, CNQ, CNSL, DANG, FGP, FLY, IQNT, JRCC, KR, NAV, NGPC, SFD, SRPT Comment! [Earnings]