DALLAS, Texas 8/27/2008 3:39:07 AM
News / Finance

Beacon Equity Issues Technical Trade Alerts on Consumer Goods/Food Product Stocks: SFD, TSN, KFT, CAG, PPC, HRL

Today’s Trade Alerts include: Smithfield Foods Inc. (NYSE: SFD), Tyson Foods Inc. (NYSE: TSN), Kraft Foods Inc. (NYSE: KFT), ConAgra Foods Inc. (NYSE: CAG), Pilgrims Pride Corp. (NYSE: PPC) and Hormel Foods Corp. (NYSE: HRL).

“Smithfield Foods Inc. (SFD) shares slipped 2.97% to $22.83 Tuesday morning.  Smithfield Foods, together with its subsidiaries, engages in the processing of pork and production of hog in the United States and internationally...

“The company is expected to report a loss, excluding items, of 4 cents a share on revenue of $2.9 billion for the quarter ended in July, according to an analyst polled by Thomson Reuters.  Smithfield is scheduled to report its quarterly results today, Tuesday, before the market opens…

“Like others in its industry, Smithfield is adversely affected by high commodity costs for key ingredients like grain and fuel.  It is raising its prices to help offset the costs, but an oversupply of meat on the market is keeping prices for pork down.  It is also tightening its business holdings...”


“Tyson Foods Inc. (TSN) shares slipped 1.42% to $15.98 in Tuesday’s early trading. Tyson Foods and its subsidiaries engage in the production, distribution and marketing of chicken, beef, pork, prepared foods, and related allied products worldwide…

 

“From a recent disclosure, the company said it spent more than $555,000 in the second quarter lobbying the federal government on agriculture and trade issues …

 

“Hurt by embargoes on U.S. beef exported to Japan and South Korea, the company worked to have the trade bans lifted and also addressed chicken-related trade issues.  Tyson Foods has also complained that federal support of ethanol as an alternative fuel has helped drive up corn prices resulting in steep increases in feed costs, thus making ethanol policy as one of the company's lobbying areas, among other issues…”

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