20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Global food company Pilgrim's Pride Corporation (NASDAQ:PPC) announced over the weekend that its president and CEO Jayson Penn will temporarily step down to focus on a legal battle.
What Happened: Penn and a handful of other executives in the chicken industry were charged with allegedly fixing the price of poultry. Penn will take a paid leave of absence immediately to focus on his defense; he has pleaded not guilty.
"The board takes the recent allegations very seriously and believes it is in the best interests of both Jayson and the company that he is given the opportunity to focus on his legal defense during this time," Gilberto Tomazoni, chairman of Pilgrim's board, said in a statement.
Pilgrim CFO Fabio Sandri was appointed interim president and CEO.
Why It's Important: Pilgrim said it "operates with the highest standards of integrity" and takes pride in operating within a "free and open competition" that benefits customers and consumers, Tomazoni said.
What's Next: Sandri was named Pilgrim as CFO in mid-2011 and has nine years of relevant experience with the company as the leader of its financial management and investor relations activity.
The stock was down 0.94% at $17.97 premarket Monday.
Related Links:
Pilgrim's Pride Falls After Chicken Companies Are Charged With Price Fixing
Tyson Says It's 'Fully Cooperating' Amid Price Fixing Probe: WSJ
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!