• People's United (PBCT) Q3 Earnings Beat, Revenues Increase
    Zacks

    People's United (PBCT) Q3 Earnings Beat, Revenues Increase

    People's United's (PBCT) third-quarter 2019 earnings reflect top-line strength, partially offset by elevated expenses and contraction of margins.

  • Citizens Financial's (CFG) Q3 Earnings Beat, Revenues Climb
    Zacks

    Citizens Financial's (CFG) Q3 Earnings Beat, Revenues Climb

    Citizens Financial's (CFG) Q3 earnings reflect capital strength and higher fee income, partially offset by escalating expenses and provisions.

  • Nike Manufacturing and Supply Chain Strategies
    Market Realist

    Nike Manufacturing and Supply Chain Strategies

    Nike's manufacturing network has over 525 factories. Products move from several distribution centers across a network of thousands of retail accounts.

  • CyberArk (CYBR) Stock Sinks As Market Gains: What You Should Know
    Zacks

    CyberArk (CYBR) Stock Sinks As Market Gains: What You Should Know

    CyberArk (CYBR) closed at $101.94 in the latest trading session, marking a -0.17% move from the prior day.

  • Tyson Bans Pig-Fattening Drug in Bid to Target China Demand
    Bloomberg

    Tyson Bans Pig-Fattening Drug in Bid to Target China Demand

    (Bloomberg) -- U.S. meat companies are changing how they source pigs in a bid to target Chinese demand, after an African swine fever outbreak decimated the Asian nation’s hog herd and caused an acute pork shortage.A unit of Arkansas-based Tyson Foods Inc. became the latest supplier to say it will prohibit ractopamine in hogs it buys from farmers, as it seeks to eliminate the feed additive banned by China from its supply chain. The move positions the companies to step up exports to fill the shortfall, as China negotiates to end an 18-month trade war with the U.S.“This paves the way for rapid and increasing shipments to China,” said Dennis Smith, a senior livestock analyst and broker with Archer Financial Services. With the ASF disease decimating hog herds across Asia, Vietnam and South Korea are also likely to need more pork, while North Korea is also reportedly having hog problems, he said.Swine fever is spreading across Asia, infecting millions of pigs and causing unprecedented losses. Hardest hit is China, home to half of the world’s hogs, where prices of pork have soared. The nation’s companies have bought U.S. agricultural products including 20 million tons of soybeans and 700,000 tons of pork so far this year and will accelerate its purchases, Foreign Ministry Spokesman Geng Shuang told reporters on Tuesday.China suspended meat imports from Canada earlier this year after detecting ractopamine in a shipment from a Quebec-based processor. While the U.S. Food and Drug Administration approved the feed additive’s use in 1999, the Asian nation has banned it since 2002, arguing the drug can harm people who consume meat raised with it.Earlier this month, Brazilian meat company JBS SA said its U.S. operations would eliminate ractopamine -- which is banned by several other nations as well -- from its pork supply chain to maximize export opportunities. Smithfield Foods Inc., owned by China’s WH Group Ltd., also doesn’t use the drug.“They can sell to China, or sell to the countries the EU and other suppliers used to sell to,” said Alan Brugler, president of Brugler Marketing & Management LLC. There are “way more” nations that ban ractopamine than those that allow it, he said, adding that maintaining a split supply chain where only some meat is free of ractopamine adds to costs.Tyson has told suppliers feed samples will be taken from farms and sent to a lab to test for ractopamine, a spokesman for the company confirmed. Testing of pigs will happen at the company’s plants.If all U.S. suppliers were to prohibit ractopamine, that would reduce American pork production by 110 million pounds a year because pigs would be leaner, according to Dan Basse, president of AgResource Co.Tyson said farmers were notified of the change Wednesday and have until Feb. 4 to meet the new requirement. The company has been offering limited ractopamine-free pork to export customers by working with farmers who raise hogs without it, and by segregating the animals and products at processing plants. These programs no longer adequately meet growing global demand, Tyson said. Its prohibition will begin February 2020.“This is a reaction to JBS doing the same thing, so they can open up their export opportunities to China,” said Michael McDougall, a broker at Paragon Global Markets in New York. It’s going to take China “a long time to recover, allowing countries like the U.S., Brazil and the EU to export.”Shares of Tyson were down 0.6% at 2:53 p.m. in New York. They have risen 31% over the past 12 months. JBS’s stock, which has soared 209% over the past year, was 0.9% lower in Brazil.(Updates with Tyson testing of feed samples in eighth paragraph, shares in last.)\--With assistance from James Attwood.To contact the reporters on this story: Isis Almeida in Chicago at ialmeida3@bloomberg.net;Michael Hirtzer in Chicago at mhirtzer@bloomberg.netTo contact the editors responsible for this story: Tina Davis at tinadavis@bloomberg.net, Pratish Narayanan, Joe RyanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Bloomberg

    Food Additives Supplier Innophos Nears Deal With Buyout Firm

    (Bloomberg) -- One Rock Capital Partners is in advanced talks to buy Innophos Holdings Inc., a maker of food additives for products including sports drinks and cheese, according to people familiar with the matter.The private equity firm is close to reaching a deal for the Cranbury, New Jersey-based company, said the people, who asked to not be identified because the discussions are private. No transaction has been finalized and talks could fall through, the people said.Innophos rose as much as 12% before its shares were halted at $37.53 at 2:57 p.m. in New York trading Thursday, giving it a market value of about $739 million. The shares are up about 15% since Sept. 10, when Bloomberg News reported that the company was working with financial adviser to explore options including a sale.Representatives for One Rock and Innophos declined to comment.The talks come amid a steady stream of dealmaking for food-chemicals makers, as the industry grapples with tepid sales and volatile raw-materials prices. Suitors have begun emerging for DuPont de Nemours Inc.’s nutrition and biosciences arm, which the company is considering selling, people familiar with the matter said in August.Innophos makes ingredients for improving the taste and texture of products including cheese, baked goods and sports drinks, according to its most recent annual report. It also has a division that produces scrubbing agents for toothpaste and ingredients for that make vitamins easier to eat.One Rock, with offices in New York and Los Angeles, invests in midsize chemicals, manufacturing and distribution businesses, according to its website.\--With assistance from Myriam Balezou.To contact the reporter on this story: Kiel Porter in Chicago at kporter17@bloomberg.netTo contact the editors responsible for this story: Liana Baker at lbaker75@bloomberg.net, Matthew Monks, Michael HythaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Boeing MAX Return Timeline Extended by Air Canada
    Market Realist

    Boeing MAX Return Timeline Extended by Air Canada

    Doubt over Boeing's 737 MAX returning to service in early January is growing. Air Canada has removed all MAXs from its flying schedule until February 14.

  • General Electric Stock: Be Careful, Investors
    Market Realist

    General Electric Stock: Be Careful, Investors

    Some traders are actively betting that General Electric stock (GE) will fall in the coming weeks. Here's why caution is warranted.

  • Discovery, The Mosaic Company, Netflix and IBM highlighted as Zacks Bull and Bear of the Day
    Zacks

    Discovery, The Mosaic Company, Netflix and IBM highlighted as Zacks Bull and Bear of the Day

    Discovery, The Mosaic Company, Netflix and IBM highlighted as Zacks Bull and Bear of the Day

  • The Zacks Analyst Blog Highlights: Delta Air Lines, United Airlines, Spirit Airlines, JetBlue Airways and Alaska Air
    Zacks

    The Zacks Analyst Blog Highlights: Delta Air Lines, United Airlines, Spirit Airlines, JetBlue Airways and Alaska Air

    The Zacks Analyst Blog Highlights: Delta Air Lines, United Airlines, Spirit Airlines, JetBlue Airways and Alaska Air

  • Earnings Preview: Cypress Semiconductor (CY) Q3 Earnings Expected to Decline
    Zacks

    Earnings Preview: Cypress Semiconductor (CY) Q3 Earnings Expected to Decline

    Cypress (CY) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • Stock Market News for Oct 17, 2019
    Zacks

    Stock Market News for Oct 17, 2019

    Major U.S. market indexes closed in the negative territory on Wednesday on the back of weak retail sales for September and fresh tensions between the United States and China.

  • First Horizon (FHN) Stock Down Despite Q3 Earnings Beat
    Zacks

    First Horizon (FHN) Stock Down Despite Q3 Earnings Beat

    Though loan growth and lower expenses support First Horizon's (FHN) third-quarter 2019 performance, higher provisions and lower revenues pose headwinds.

  • 4 Airline Stocks Likely to Outshine Q3 Earnings Estimates
    Zacks

    4 Airline Stocks Likely to Outshine Q3 Earnings Estimates

    Factors like high passenger revenues and low fuel costs are likely to have aided airlines' third-quarter 2019 performance.

  • What Kind Of Shareholders Own Ctrip.com International, Ltd. (NASDAQ:CTRP)?
    Simply Wall St.

    What Kind Of Shareholders Own Ctrip.com International, Ltd. (NASDAQ:CTRP)?

    The big shareholder groups in Ctrip.com International, Ltd. (NASDAQ:CTRP) have power over the company. Institutions...

  • Bear of the Day: Mosaic (MOS)
    Zacks

    Bear of the Day: Mosaic (MOS)

    Bear of the Day: Mosaic (MOS)

  • The downside to living longer: Running out of money
    Yahoo Finance

    The downside to living longer: Running out of money

    Lifespans have increased faster than savings rates, and some financial experts are worried that people aren't saving enough — and that future safety safety nets like Social Security may not provide the same benefits they are now.

  • UAL Reports Robust Q3, Ups Outlook despite MAX Woes
    Market Realist

    UAL Reports Robust Q3, Ups Outlook despite MAX Woes

    United Airlines (UAL) has reported robust Q3 earnings results and raised its fiscal 2019 outlook despite the continued grounding of its 14 Boeing 737 MAXs.

  • Airline Stock Roundup: DAL & UAL's Earnings Beat, SAVE's Q3 View Bullish & More
    Zacks

    Airline Stock Roundup: DAL & UAL's Earnings Beat, SAVE's Q3 View Bullish & More

    Low fuel costs aid the third-quarter 2019 bottom-line performances of Delta (DAL) and United Airlines (UAL).

  • Why frozen food sales are rocking again in America
    Yahoo Finance

    Why frozen food sales are rocking again in America

    The frozen food business continues to do wonders for the bottom line of Conagra Brands.

  • Symantec Boosts Endpoint Security Portfolio With New Upgrade
    Zacks

    Symantec Boosts Endpoint Security Portfolio With New Upgrade

    Symantec's (SYMC) Endpoint Security solution features capabilities like new attack surface reduction, threat hunting, and breach analysis and prevention, to cater to the growing need for comprehensive enterprise security.

  • CrowdStrike CEO: There's a 'real awakening' about the threat of 2020 election hacking
    Yahoo Finance

    CrowdStrike CEO: There's a 'real awakening' about the threat of 2020 election hacking

    CrowdStrike co-founder and CEO George Kurtz weighs in on cybe threats pertaining to the 2020 presidential election.

  • Earnings Preview: Freeport-McMoRan (FCX) Q3 Earnings Expected to Decline
    Zacks

    Earnings Preview: Freeport-McMoRan (FCX) Q3 Earnings Expected to Decline

    Freeport-McMoRan (FCX) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • CrowdStrike CEO gives perfect answer on post IPO stock price tumble
    Yahoo Finance

    CrowdStrike CEO gives perfect answer on post IPO stock price tumble

    Crowdstrike remains a business on fire, even if some on Wall Street are voicing views to the contrary.

  • United Raises 2019 Outlook Again on Flight Demand, Fuel Cost
    Bloomberg

    United Raises 2019 Outlook Again on Flight Demand, Fuel Cost

    (Bloomberg) -- United Airlines Holdings Inc. raised its 2019 profit forecast for the second straight quarter, citing strong travel demand and lower-than-expected fuel prices in the late summer.Earnings will climb to at least $11.25 a share this year, the carrier said in a statement Tuesday as it reported third-quarter results that showed robust travel demand. That compares with an outlook of at least $10.50 a share in July, when United also raised its expectations for this year’s performance.The carrier is reaping the rewards of a turnaround plan it set out in early 2018, which called for aggressive growth to boost connecting traffic and profitability at hubs in Chicago, Houston and Denver. Chief Executive Officer Oscar Munoz said United is “ahead of pace” to achieve its 2020 earnings target of $11 to $13 a share, a goal he established last year.“We can identify no salient components of United’s near-term guide that should be viewed disappointingly,” Jamie Baker, a JPMorgan Chase & Co. analyst, said in a note. United rose 1.2% to $88.91 at 9:46 a.m. in New York, the most on a Standard & Poor’s index of major U.S. airlines. The shares advanced 5% this year through Tuesday, trailing the 6.9% gain of the broader industry gauge.Max CostsAdjusted earnings rose to $4.07 a share in the third quarter, United said. That topped the average estimate of $3.97. Sales climbed to 3.4% to $11.4 billion, in line with estimates.The Chicago-based airline paid an average of $2.02 a gallon for jet fuel in the quarter, 13% below the same period last year, despite a Sept. 14 terrorist attack on Saudi Arabian oil facilities that briefly caused prices to spike. Most of that production was restored within weeks. United’s per-gallon fuel cost was 10 cents less than the low end of the company’s own forecast.In the fourth quarter, revenue for each seat flown a mile, a closely watched gauge of pricing power, will be flat to up 2%. United expects full-year growth of 3.5% in its capacity of flights and seats, in line with its forecast in July, owing in part to the absence of Boeing Co.’s 737 Max. United has removed the model from its schedule through Jan. 6 and was forced to pare back its initial plan to expand 2019 capacity as much as 6%.Non-fuel costs for each seat flown a mile are expected to rise 1.2% this year, United said, surpassing the 1% target for so-called unit costs. The carrier blamed the increase on the grounding of the Max and separate flight reductions made in response to political tensions in India, Pakistan and Hong Kong.Delta DisappointmentDelta Air Lines Inc., which doesn’t have any Max jets, disappointed investors last week when it said unit costs would rise next year as much as a full percentage point more than its long-term goal of no more than 2%.The Max’s flying ban has pressured airlines’ per-mile seat costs, a measure that typically rises as capacity drops. United had 14 Max planes in its fleet when regulators grounded the model in March following two deadly crashes in a five-month span. The airline had planned to expand its Max fleet to 30 by year-end.The return of the Max is expected to help ease cost pressures for U.S. airlines that fly it, although analysts have expressed concerns that it could spur an increase in available seats and thereby pressure fares.(Updates with analyst comment in fourth paragraph.)To contact the reporter on this story: Justin Bachman in Dallas at jbachman2@bloomberg.netTo contact the editors responsible for this story: Brendan Case at bcase4@bloomberg.net, Susan WarrenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.