A Few Longs Chicken Out Of Tyson Foods After Q1 Report

Tyson Foods

are trading higher by $1.12 at $68.33 in Monday's session. the catalyst for the rally is a Q1 EPS beat of $0.11 along with a slight revenue beat. Also, the company raised FY 2016 guidance. After trading all the way to $71 in in premarket trading immediately following the report, it could do no better than $70.44, during the regular session. Since reaching that elevated level, profits takers have come into the issue, taking it as low as $68.07. That is well ahead of the top of Friday's range, which stnads at $67.34. In order, to post a new all time closing high, it will need to close over $68.37.