Tyson Foods (NYSE:TSN) Stock, Quote.Headers.trade-ideas

Tyson Foods

Tyson Foods is a protein-focused food producer, selling raw chicken, beef, pork, and prepared foods. Chicken and beef are its two largest segments, each comprising about one-third of US sales. Prepared foods constitute roughly 20% of sales and include brands like Tyson, Jimmy Dean, Hillshire Farm, Ball Park, and Sara Lee. However, most of these are in product categories rife with competition where Tyson does not have a massive market share lead. Tyson sells some products overseas, but the international segment accounts for just 5% of total revenue. The company is an active acquirer, with more recent years' purchases focused on international and food-service markets.

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In a significant leadership change, Tyson Foods has decided not to reinstate John Randal Tyson as its Chief Financial Officer following his suspension earlier this year.

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Tyson Foods's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) short percent of float has risen 44.97% since its last report. The company recently reported that it has 6.10 million shares sold short, which is 2.45% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.79 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Tyson Foods Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726598717_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Tyson Foods has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Tyson Foods's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Tyson Foods's peer group average for short interest as a percentage of float is 4.50%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

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Looking Into Tyson Foods's Recent Short Interest

These ten large-cap stocks were the worst performers in the last week. Are they in your portfolio?
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Photo by Lutsenko_Oleksandr on Shutterstock

Barclays analyst Benjamin Theurer maintains Tyson Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) with a Overweight and raises the price target from $72 to $76.

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Barclays Maintains Overweight on Tyson Foods, Raises Price Target to $76

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Tyson Foods's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) short percent of float has fallen 4.52% since its last report. The company recently reported that it has 4.22 million shares sold short, which is 1.69% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.89 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Tyson Foods Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725029115_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Tyson Foods has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Tyson Foods's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Tyson Foods's peer group average for short interest as a percentage of float is 4.27%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

(TSN) - Analyzing Tyson Foods's Short Interest

Tyson Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) has decided not to reinstate John R. Tyson as its Chief Financial Officer following his suspension earlier this year.
What Happened: John R. Tyson, the former CFO of Tyson Foods, will not be reinstated to his previous role at the company. Tyson Foods had placed him on suspension following his <a href="https://www.benzinga.com/news/24/07/39800909/tyson-foods-cfo-pleads-not-guilty-on-driving-while-intoxicated-charges-wsj">arrest for driving while intoxicated</a> in mid-June. 
On Thursday, the company <a href="https://www.tysonfoods.com/news/news-releases/2024/8/tyson-foods-names-curt-calaway-chief-financial-officer">announced</a> that Curt Calaway, who had been serving as interim CFO, will now assume the position permanently. John Tyson will remain an employee on a health-related leave.
Calaway, 50, <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/100493/000010049324000106/tsn-20240829.htm">received</a> a salary increase to $675,000 and is eligible for a potential cash bonus of $742,500 this year, along with another possible $300,000. His appointment as interim CFO was effective from June 13. 
Calaway&#8217;s total potential compensation of $1.7 million is significantly lower than the $2.9 million compensation package John R. Tyson received in 2023 when he held both the CFO and chief sustainability officer roles.
John R. Tyson, the great-grandson of founder John W. Tyson, had a tumultuous tenure at the company since joining in 2019. 
He became the youngest CFO in the Fortune 500 in 2022 at age 32. However, his career faced challenges, including a bizarre incident in 2022 where he was found asleep in a stranger&#8217;s bed, leading to <a href="https://www.benzinga.com/news/24/07/39800909/tyson-foods-cfo-pleads-not-guilty-on-driving-while-intoxicated-charges-wsj">charges of trespassing and public intoxication</a>.
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Why It Matters: The leadership shakeup at Tyson Foods comes at a crucial time for the company. In early July, Tyson Foods announced the <a href="https://www.benzinga.com/markets/equities/24/07/39705369/tyson-foods-divests-georgia-plant-in-profitability-push">sale of its poultry complex in Vienna, Georgia</a>, to House of Raeford Farms as part of its strategy to optimize its plant network. This move is part of Tyson Foods' ongoing efforts to enhance profitability and streamline operations.
Additionally, the company has been scaling back its <a href="https://www.benzinga.com/markets/equities/24/07/39594565/tyson-reduces-antibiotic-free-beef-options-as-costs-rise-report">antibiotic-free beef products</a> due to rising costs and increased regulations. 
Despite these challenges, Tyson Foods reported <a href="https://www.benzinga.com/news/earnings/24/08/40158875/tyson-foods-surpasses-q3-expectations-with-beef-and-pork-gains-chicken-segment-falls-short">strong third-quarter results</a>, with beef and pork segments showing gains, although the chicken segment fell short. The company&#8217;s quarterly adjusted earnings per share of 87 cents beat the street view of 65 cents, and sales of $13.353 billion surpassed analyst expectations. 
Price Action: Tyson Foods&#8217; stock closed at $64.65 on Thursday, down 1.58% for the day. In after-hours trading, the stock slightly declined by 0.31%. Despite recent fluctuations, Tyson Foods has gained 16.42% year to date, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
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Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Tyson Foods Says Curt Calaway Succeeds John Tyson, Who Remains With Company But Is Currently On Health-Related Leave

Tyson Foods Names Curt Calaway As CFO, Effective Immediately; Calaway Has Been With Company Since 2006, Most Recently Serving As Interim CFO

Canada&#8217;s railway strike could <a href="https://www.benzinga.com/news/global/24/08/40497103/strikes-at-us-ports-canadas-railways-may-cause-container-freight-rate-volatility">have major impacts </a>on various sectors and companies in the U.S. that rely on goods and commodities from the second-largest company in the world.
Canadian National Railway&nbsp;Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNI#NYSE">CNI</a>) and Canadian Pacific Kansas City Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CP#NYSE">CP</a>) said they locked out their workers and shut their networks in Canada early on Thursday after labor negotiations with the Teamsters Canada Rail Conference failed to result in a new union contract, Reuters reported.
Canada uses railways extensively to export grain, automobiles, potash, coal and other goods that are sold by companies &#8212; about $277 billion worth annually.
Thursday&#8217;s stoppage by these two Canadian railways could prove to be a major shock to U.S. companies and sectors because of the amount of goods and commodities they carry in North America.
Canadian National Railway Company operates 20,000 miles of railroad that spans the entire width of Canada and follows the Mississippi River all the way to the Gulf of Mexico.
The Canadian Pacific Kansas City also runs a 20,000-mile network that covers Canada from east to west but also travels down through the U.S. and into Mexico.
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Here are some sectors that stand to be hurt by the rail stoppage:
<h2 class="wp-block-heading">Automobile</h2>
The U.S. imported and exported transportation equipment worth about $73 billion respectively in 2023 from Canada, according to the International Trade Administration. Canadian National&#8217;s website said it carries over 2 million finished vehicles a yearon an annual basis and services 12 North American vehicle assembly plants.
Canadian Pacific Kansas City caters to about 90% of automotive assembly plants in Mexico, it said on its website.
Price Action: Major automobile manufacturers had mixed performances into Thursday&#8217;s mid-afternoon trading.
<ul>
<li>Ford Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) rose 0.69% to $10.93</li>
<li>General Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) ticked up 0.05% to $46.58</li>
<li>Stellantis N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) slipped 1.30% to $16.34</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) fell 3.84% to $214.70 </li>
</ul>
<h2 class="wp-block-heading">Timber</h2>
Canada&#8217;s timber exports totaled $3.5 billion in 2022, according to Canadian government data.
 Pulp producer Mercer International&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MERC#NASDAQ">MERC</a>) said it was working on contingency plans for alternative transport methods in response to the strike.
Price Action: Major lumber retailers and producers trended downward on Thursday.
<ul>
<li>The Home Depot, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) fell 1.17% to $366.12</li>
<li>Lowe&#8217;s Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) declined 0.68% to $240.72</li>
<li>Weyerhaeuser Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WY#NYSE">WY</a>) dropped 0.53% to $30.25</li>
<li>West Fraser Timber Co. Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFG#NYSE">WFG</a>) slipped 0.61% to $80.52</li>
</ul>
<h2 class="wp-block-heading">Grains And Agricultural Products</h2>
Nearly three dozen North American&nbsp;agricultural groups have warned that a simultaneous stoppage would be very severe on bulk commodity exporters in both Canada and the United States.
Price Action: Major manufacturers of grains and agricultural products saw losses on Thursday.
<ul>
<li>Tyson Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) declined 0.60% to $62.93</li>
<li>The Mosaic Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOS#NYSE">MOS</a>) dipped 0.29% to $27.84</li>
<li>AGCO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGCO#NYSE">AGCO</a>) slid 0.32% to $89.19</li>
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JP Morgan analyst Kenneth Goldman maintains Tyson Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) with a Neutral and raises the price target from $61 to $63.

JP Morgan Maintains Neutral on Tyson Foods, Raises Price Target to $63

Barclays analyst Benjamin Theurer maintains Tyson Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) with a Overweight and raises the price target from $69 to $72.

Barclays Maintains Overweight on Tyson Foods, Raises Price Target to $72

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
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<li>Deutsche Bank raised the price target for Palantir Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) from $20 to $21. Deutsche Bank analyst Brad Zelnick maintained the stock with a Sell rating. Palantir shares fell 2.6% to close at $24.09 on Monday. <a href="https://www.benzinga.com/quote/PLTR/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Needham cut RxSight, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RXST#NASDAQ">RXST</a>) price target from $75 to $54. Needham analyst David Saxon maintained a Buy rating. RxSight shares fell 2.4% to close at $40.78 on Monday. <a href="https://www.benzinga.com/quote/RXST/analyst-ratings">See how other analysts view this stock.</a></li>
<li>B of A Securities raised the price target for Axsome Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXSM#NASDAQ">AXSM</a>) from $95 to $106. B of A Securities analyst Jason Gerberry upgraded the stock from Neutral to Buy. Axsome Therapeutics shares fell 1.4% to close at $83.21 on Monday. <a href="https://www.benzinga.com/quote/AXSM/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Baird raised Freshpet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRPT#NASDAQ">FRPT</a>) price target from $135 to $140. Baird analyst Peter Benedict maintained an Outperform rating. Freshpet shares fell 0.6% to close at $121.41 on Monday. <a href="https://www.benzinga.com/quote/FRPT/analyst-ratings">See how other analysts view this stock.</a></li>
<li>JP Morgan raised Lithia Motors, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAD#NYSE">LAD</a>) price target from $280 to $315. JP Morgan analyst Rajat Gupta maintained an Overweight rating. Lithia Motors shares fell 4.6% to close at $276.76 on Monday. <a href="https://www.benzinga.com/quote/LAD/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Needham raised the price target for EverQuote, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVER#NASDAQ">EVER</a>) from $30 to $38. Needham analyst Mayank Tandon maintained a Buy rating. EverQuote shares fell 3.5% to close at $23.96 on Monday. <a href="https://www.benzinga.com/quote/EVER/analyst-ratings">See how other analysts view this stock.</a></li>
<li>BMO Capital boosted Tyson Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) price target from $58 to $60. BMO Capital analyst Andrew Strelzik maintained a Market Perform rating. Tyson shares rose 2.1% to close at $62.51 on Monday. <a href="https://www.benzinga.com/quote/TSN/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Truist Securities raised eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>) price target from $50 to $58. Truist Securities analyst Youssef Squali maintained a Hold rating. EVgo shares fell 2.7% to close at $54.66 on Monday. <a href="https://www.benzinga.com/quote/EBAY/analyst-ratings">See how other analysts view this stock.</a></li>
<li>JP Morgan raised AutoNation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>) price target from $155 to $160. JP Morgan analyst Rajat Gupta maintained a Neutral rating. AutoNation shares dipped 2.7% to close at $166.06 on Monday. <a href="https://www.benzinga.com/quote/AN/analyst-ratings">See how other analysts view this stock.</a></li>
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BMO Capital analyst Andrew Strelzik maintains Tyson Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) with a Market Perform and raises the price target from $58 to $60.

BMO Capital Maintains Market Perform on Tyson Foods, Raises Price Target to $60

Global markets are experiencing intense volatility, and while it seemed like a Black Monday for Wall Street was inevitable following a <a href="https://www.benzinga.com/markets/equities/24/08/40152271/mohamed-el-erian-grant-cardone-and-matt-weller-warn-of-deepening-global-market-selloff-as-yen-ri">13% overnight tumble of Japan&#8217;s Nikkei 225, stock indices</a> are attempting to limit early session losses by midday trading in New York.
The inflection point came after July&#8217;s services sector activity surveys revealed improved conditions from June and a stronger-than-expected expansion, easing fears of <a href="https://www.benzinga.com/news/econ-s/24/08/40161832/us-services-activity-returns-to-growth-in-july-global-market-selloff-stalls-are-recession-fears-over">an imminent U.S. recession.</a>
In July, business sentiment in the U.S. services sector returned to expansion, with the ISM Services Purchasing Managers&#8217; Index (PMI) rising from 48.8% to 51.4%, surpassing expectations of an increase to 51%.
Before the ISM data release, traders speculated on an intra-meeting Fed interest rate cut after Chicago Fed President Austan Goolsbee stated in a CNBC interview that everything could be on the table.
Following the data, market-implied probabilities for a 50-basis-point rate cut decreased from 100% to about 80%, while the likelihood of a smaller 25-basis-point increase rose from about 0% to 20%, according to the CME Group FedWatch Tool.
After opening over 4% lower at 5,120 points, the S&amp;P 500 slightly trimmed its losses to 5,233 by 12:30 p.m. in New York, marking a smaller 2.1% decline for the day.
Similar movements were observed in the tech-heavy Nasdaq 100, blue-chip stocks tracked by the Dow Jones and small-cap stocks.
As interest rate probabilities shifted, bonds halted their gains, and Treasury yields rose across all maturities. The 2-year Treasury yield traded 4 basis points higher at 3.92%, after having fallen to as low as 3.65% during early trading hours.
The popular iShares 20+Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) was unchanged, following seven straight sessions of gains. 
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) initially fell by 15% at 9:30 a.m. in New York, but then rallied by 10% between 9:30 a.m. and 12:30 p.m., reducing its daily losses to 5.9%.
Commodities traded lower across the board, with gold and oil down 1.5% and 1.3%, respectively. Silver plunged nearly 5%, in its worst session in two months. 
<h1 class="wp-block-heading">Monday&#8217;s Performance In Major US Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>38,918.07</td>
<td>-2.1 %</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,040.81</td>
<td>-2.2%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,226.62</td>
<td>-2.2%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,055.96</td>
<td>-2.4%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:43 p.m. ET</figcaption></figure>
According to Benzinga Pro data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 2.2% lower to $520.50.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;fell 2.1% to $388.75.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 2.3% to $438.40.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) tanked 2.7% to $203.26.</li>
<li>Sector-wise, the Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) experienced the smallest decline, down 1.2%, while the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) saw the largest drop, falling by 2.8%.</li>
</ul>
<h1 class="wp-block-heading">Monday&#8217;s Stock Movers</h1>
<ul>
<li>Kellanova (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/K#NYSE">K</a>) soared over 14% after the Wall Street Journal reported that privately held Mars is in advanced talks to acquire the Pringles maker.</li>
</ul>
Stocks reacting to earnings included: 
<ul>
<li>BioNTech SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>), down 2.54%,</li>
<li>The Carlyle Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CG#NASDAQ">CG</a>), down 8%, </li>
<li>Tyson Foods, Inc. (NYSW: TSN), up 4%. </li>
</ul>
Those reporting after the close are ADTRAN Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADTN#NASDAQ">ADTN</a>), Avis Budget Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAR#NASDAQ">CAR</a>), Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), CSX Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSX#NASDAQ">CSX</a>), Navitas Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVTS#NASDAQ">NVTS</a>), J&amp;J Snack Foods Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JJSF#NASDAQ">JJSF</a>), Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) and Yum China Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NASDAQ">YUMC</a>).
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</ul>
Photo: Shutterstock

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US Stocks Trim Black Monday's Drops As Services Gauge Expands, Bond Gains Stall As Traders Reassess Fed Cuts: What's Driving Markets?

U.S. stocks traded lower this morning, with the Dow Jones falling more than 2% on Monday.
The Dow traded down 2.18% to 38,872.06 while the NASDAQ fell 3.14% to 16,248.99. The S&amp;P 500 also fell, dropping, 2.54% to 5,211.01.
Leading and Lagging Sectors Real estate shares fell by just 0.9% on Monday.
In trading on Monday, information technology shares dipped by 3.4%.
Top Headline Tyson Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) reported better-than-expected third-quarter earnings on Monday.
Quarterly adjusted earnings per share of 87 cents (+480%) beat the street view of 65 cents. Sales of $13.353 billion (+1.6%) beat the analyst consensus of $13.236 billion.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>MGO Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGOL#NASDAQ">MGOL</a>) shares shot up 55% to $3.99 after gaining over 5% on Friday.</li>
<li>Shares of Beasley Broadcast Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BBGI#NASDAQ">BBGI</a>) got a boost, surging 25% to $0.6259&nbsp;.</li>
<li>Kernel Group Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KRNL#NASDAQ">KRNL</a>) shares were also up, gaining 25% to $13.99.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Actinium Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATNM#NASDAQ">ATNM</a>) shares dropped 72% to $1.7006 after the FDA determined that its Phase 3 SIERRA trial is not adequate to support a BLA filing for Iomab-B.</li>
<li>Shares of VBI Vaccines Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VBIV#NASDAQ">VBIV</a>) were down 34% to $0.0615. VBI Vaccines was notified that its common shares will be delisted from Nasdaq effective as of opening of business on Aug. 8.</li>
<li>Urgent.ly Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULY#NASDAQ">ULY</a>) was down, falling 32% to $0.9699. Urgently will host a conference call on Monday, Aug. 12 to discuss its financial results for the second quarter.</li>
</ul>
Commodities In commodity news, oil traded down 0.5% to $73.05 while gold traded down 1.5% at $2,433.40.
Silver traded down 4% to $27.265 on Monday, while copper fell 2.1% to $4.0160.
Euro zone
European shares were lower today. The eurozone's STOXX 600 fell 2.5%, Germany's DAX fell 2.5% and France's CAC 40 fell 2.1%. Spain's IBEX 35 Index fell 2.5%, while London's FTSE 100 fell 2.6%.
Asia Pacific Markets
Asian markets closed lower on Monday, with Japan's Nikkei 225 dipping 12.4%, Hong Kong's Hang Seng Index falling 1.46%, China's Shanghai Composite Index falling 1.54% and S&amp;P BSE Sensex declining 2.74%.
Economics
<ul>
<li>The ISM services PMI climbed to 51.4 in July from 48.8 in April and also topping market expectations of 51.</li>
<li>The S&amp;P Global composite PMI was revised lower to 54.3 in July versus the preliminary reading of 55.</li>
</ul>
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<li><a href="https://www.benzinga.com/markets/24/08/40142776/wall-streets-most-accurate-analysts-views-on-3-materials-stocks-delivering-high-dividend-yields">Wall Street&#8217;s Most Accurate Analysts&#8217; Views On 3 Materials Stocks Delivering High-Dividend Yields</a><a href="https://www.benzinga.com/markets/24/08/40142776/wall-streets-most-accurate-analysts-views-on-3-materials-stocks-delivering-high-dividend-yields"> </a></li>
</ul>

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Nasdaq Tumbles 3%; Tyson Foods Earnings Top Views

Tyson Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) shares are volatile <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">after reporting third-quarter results.</a>
Quarterly adjusted earnings per share of 87 cents (+480%) beat the street view of 65 cents. Sales of $13.353 billion (+1.6%) <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/g40157211/tyson-foods-reports-third-quarter-2024-results" rel="noreferrer noopener">beat the analyst consensus of $13.236 billion.</a>
Beef volume rose 4.4%, the Pork segment rose 1.2%, while volume in the Chicken segment fell 0.4%.
&#8220;In Q3, we delivered the highest adjusted operating income in the last seven quarters while also generating strong free cash flow,&#8221; stated Donnie King, President &amp; CEO of Tyson Foods.
Adjusted operating margin in the quarter under review expanded to 3.7% from 1.4% in the year-ago period.
Also Read: <a target="_blank" href="http://benzinga.com/news/24/08/40157546/gamestop-shuts-down-game-informer-magazine-lays-off-entire-staff-report" rel="noreferrer noopener">GameStop Shuts Down Game Informer Magazine, Lays Off Entire Staff: Report</a>
Tyson Foods exited the quarter with cash and equivalents worth $2.569 billion. The company&#8217;s inventories as of third-quarter-end totaled $5.033 billion.
Quarterly free cash flow (non-GAAP) was $1.089 billion, up $1.224 billion from the prior year.
Tyson Foods&#8217; long-term debt stands at $9.701 billion as of June 29, 2024.
Outlook: Tyson Foods continues to expect sales to be relatively <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">flat in fiscal 2024 as compared to fiscal 2023.</a>
The company sees total liquidity, which was $4.8 billion as of June&nbsp;29, 2024, to remain above the minimum liquidity target of $1.0 billion.
&#8220;We anticipate using existing liquidity to retire the $1.25 billion senior notes due August 2024,&#8221; Tyson Foods said.
For fiscal 2024, the United States Department of Agriculture (USDA) indicates domestic protein production (beef, pork, chicken and turkey) should increase slightly compared to fiscal 2023 levels, Tyson Foods said.&nbsp;
For the Beef segment, the company currently sees an adjusted operating loss between ($400) million and ($300) million in fiscal 2024.
For the Pork segment, the firm&nbsp;anticipates an adjusted operating income of $100 million to $200 million in fiscal 2024.
For the chicken segment, the company anticipates an adjusted operating income of $850 million to $950 million for fiscal 2024.
For Prepared Foods, the firm anticipates adjusted operating income of $850 million to $950 million in fiscal 2024.
Price Action: TSN shares are trading lower by 2.01% to $60.00 premarket at last check Monday.
Photo via Shutterstock
Also See:&nbsp;
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<li><a href="https://www.benzinga.com/markets/equities/24/07/39831371/chewy-founder-gamestop-ceo-ryan-cohen-posts-trump-665-times-on-elon-musks-x-cryptic-message-has-" target="_blank" rel="noreferrer noopener">Chewy Founder, GameStop CEO Ryan Cohen Posts' TRUMP' 665 Times On Elon Musk's X: Cryptic Message Has Internet Guessing</a></li>
</ul>

Guidance

General

Tyson Foods Surpasses Q3 Expectations with Beef and Pork Gains, Chicken Segment Falls Short

The stock market is on track to gap-open sharply lower on Monday as negative sentiment seen in the final two sessions of last week has carried over into the new week. The index futures were all sharply lower, with the Nasdaq 100 down over 4% and volatility has spiked, with the CBOE Volatility Index, aka VIX, up over 100%. <a href="https://www.benzinga.com/markets/asia/24/08/40152994/as-global-markets-roil-strategist-soothes-nerves-some-normal-action-under-the-surface-as-tech-got-wa">Asset classes plunged across the board</a> amid worries over a hard landing in the U.S., which in turn may have a cyclical effect on the rest of the global economies as well.
Billionaire investor Warren Buffett&#8217;s Berkshire Hathaway, Inc. (BRK-A) (BRK-B) disclosed that it trimmed its equity portfolio considerably, and instead chose to accumulate cash. This could potentially trigger fears among traders regarding the near-term outlook for the market. His firm sold nearly half of the Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) shares it held in its portfolio. A duo of service sector activity readings may also be in the spotlight.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-4.37%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-2.88%</td>
</tr>
<tr>
<td>Dow</td>
<td>-1.90%</td>
</tr>
<tr>
<td>R2K</td>
<td>-4.06%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">In premarket trading on Monday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) declined 2.81% to $517.92, and the Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) plunged 4.26% to $429.64, according to <a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Last Session:
Earnings and economic catalysts were the dynamics in play in the market in the week ended Aug. 2, with all three major averages plunging sharply for the week. The tech-heavy Nasdaq Composite turned in the worst performance, with the mega-cap sell-off weighing on the index.
After showing apprehensions early in the week, stocks rose sharply on Wednesday, encouraged by Advanced Micro Devices, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) positive earnings and the Federal Reserve&#8217;s insinuation of a rate cut in September through the tweaks in the post-meeting policy statement.
Selling set in on Thursday amid the release of weak manufacturing data and the jobless claims report that showed a spike in the number of individuals claiming unemployment benefits. The selling intensified on Friday amid disappointing tech earnings and worries about the health of the economy.
The Nasdaq Composite and the S&amp;P 500 settled at their lowest in about two months, while the Dow slid to a one-month low. Small-caps, which were staging a nice recovery amid expectations of a Fed rate cut, pulled back sharply amid the deterioration in investor sentiment.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Week&#8217;s Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-3.35%</td>
<td>16,776.16</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-2.06%</td>
<td>5,346.56</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-2.10%</td>
<td>39,737.26</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-6.67%</td>
<td>2,109.31</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Weighing in on the premarket slump, CNBC Mad Money host Jim Cramer said investors may have been driven to the wall as they see the prospect of the Tokyo collapse of the 1980s recurring and were reacting to the fear. He also questioned whether SoftBank Group Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) was controlling the sentiment toward the Nasdaq stocks with its desperate selling. Softbank&#8217;s Tokyo-listed shares fell over 18%. 
&#8220;Global reset led from Japan,&#8221; he said.
Cramer also recommended investors exercise restraint. &#8220;I do not want to call it over-exaggerated, but it would be more thoughtful if the decline were based on more basics and less emotion,&#8221; he said.
Wedbush&#8217;s Daniel Ives said in a post on X that Japan&#8217;s Nikkei 225 average&#8217;s historical sell-off as &#8220;Yen carry trade unwinds in brutal fashion and global economic/geopolitical jitters will cause a nasty day for US markets and tech stocks.&#8221; 
&#8220;We keep same tech playbook we used during March 2020 Covid sell-offs and other macro panic events last few years,&#8221; he added.
Upcoming Economic Data:
The unfolding week&#8217;s economic calendar is fairly light and noteworthy among them are two separate service sector activity readings and the weekly jobless claims data.
<ul>
<li>On Monday S&amp;P Global is due to release its final service sector purchasing managers&#8217; index for July at 9:45 a.m. EDT, with economists expecting a reading of 55 for the month.</li>
<li>The Institute for Supply Management&#8217;s non-manufacturing report due at 10 a.m. EDT, is expected to improve from 48.8 in June to 51.4 in July.</li>
<li>The Treasury will auction three- and six-month notes at 11:30 a.m. EDT.</li>
</ul>
See Also:<a href="https://www.benzinga.com/money/how-to-trade-futures"> How To Trade Futures </a>
Stocks In Focus:
<ul>
<li>Tech stocks as a pack are sliding with semiconductor stocks showing notable weakness. Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) fell 9.10% <a href="https://www.benzinga.com/premarket">in premarket trading</a> amid the market-wide negativity and rumors of a potential delay in its next-iteration Blackwell AI accelerators. Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) fell sharply, tracking the steeper loss by its parent SoftBank Group Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) on the Tokyo stock exchange.</li>
<li>BioNTech SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>), The Carlyle Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CG#NASDAQ">CG</a>) and Tyson Foods, Inc. (NYSW: TSN) are among the key companies due to <a href="https://www.benzinga.com/calendars/earnings">release their earnings reports ahead of the market opening</a>.</li>
<li>Those reporting after the close are ADTRAN Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADTN#NASDAQ">ADTN</a>), Avis Budget Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAR#NASDAQ">CAR</a>), Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), CSX Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSX#NASDAQ">CSX</a>), Navitas Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVTS#NASDAQ">NVTS</a>), J&amp;J Snack Foods Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JJSF#NASDAQ">JJSF</a>), Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) and Yum China Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NASDAQ">YUMC</a>).</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures fell sharply and even safe-haven gold futures declined, while the 10-year benchmark Treasury note yield slipped further below 4%, as it was at 3.739%, down 5.5 percentage points. Bitcoin USD (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) p<a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40153940/bitcoin-crashes-below-50k-briefly-crypto-market-records-over-1b-in-liquidations-in-24-hour">lummeted over 15% toward the $51K mark.</a>
Global equity markets sold off, with Japan setting in motion the selling wave, as the yen strengthened following the Bank of Japan&#8217;s recent tightening. This triggered the unwinding of yen carry traders, which in turn weighed down on stocks in the other regions. 
Japan's Nikkei 225 average plunged 12.40% amid the mayhem on Monday before settling at 31,458.42. This came on top of the 5.8% plunge on Friday. Intraday, the index slumped 13.4%, marking the biggest single-day drop since a nearly 15% plunge in Oct. 1987 on the day dubbed "Black Monday."
South Korea's Kospi had to be halted amid a plunge and ended Monday's session down 8.77% at 2,441.55.
European stocks have started notably lower.
Read Next:
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<li><a href="https://www.benzinga.com/markets/asia/24/08/40154219/what-investors-should-know-about-yen-carry-trade-unwinding-that-is-sending-global-markets-into-a-tai">What Investors Should Know About Yen Carry-Trade Unwinding That Is Sending Global Markets Into A Tailspin</a></li>
</ul>
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Nasdaq, R2K Futures Tumble Over 4%, VIX Spikes Over 100%, Bitcoin Plunges Hard As Global Sell-Off Deepens Amid Recession Fears

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Tyson Foods, Inc. (TSN) Barclays Global Consumer Staples Conference - (Transcript)

Barclays analyst Benjamin Theurer maintained a Buy rating on Tyson Foods (TSN – Research Report) today and set a price target of $76.00. The compan...

Tyson Foods (TSN) Receives a Buy from Barclays

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Dividends

Press Releases

Tyson Foods Announces Quarterly Dividend

Former Cisco Systems Technology Executive Appointed to Tyson Foods Board of Directors

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Tyson Foods To Participate in the Barclays Global Consumer Staples Conference

Tyson Foods Names Curt Calaway Chief Financial Officer

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Tyson Foods (TSN) Forecast

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