Shares of poultry companies are the new hot performers

US - There's a lot of talk about bulls and bears on Wall Street. But the market should perhaps be thinking of another animal: chickens.

Investors have been dipping their beaks in shares of poultry producers as healthy consumer demand for chicken and lower grain costs have led to strong profits.

Shares of industry leader Tyson Foods (Research) are up nearly 10 percent during the past three months and are trading just 7 percent below their 52-week high. Although the company reported disappointing fiscal third-quarter results Monday and lowered its fiscal fourth quarter guidance, investors appeared to take it in stride. The stock slipped about 2 percent.

Tyson, a diversified producer and distributor of meat products, blamed weakness in its pork segment for its pessimistic forecast.

Source: CNN
calendar icon 2 August 2005
clock icon 1 minute read
© 2000 - 2024 - Global Ag Media. All Rights Reserved | No part of this site may be reproduced without permission.