Beacon Equity Research announces the release of Trade Alerts covering Market Movers: Tyson Foods Inc. (NYSE: TSN), Saks Inc. (NYSE: SKS), NVIDIA Corp. (Nasdaq: NVDA), Symantec Corp. (Nasdaq: SYMC), Adobe Systems Inc. (Nasdaq: ADBE) and Exxon Mobil Corp. (NYSE: XOM).
In the Trade Alert, the author highlights Tyson Foods’ offering of $500 million in notes:
“Tyson Foods Inc. (TSN) shares closed Friday at $7.75, down 5.26% from its previous close of $8.18. Tyson Foods and its subsidiaries engage in the production, distribution and marketing of chicken, beef, pork, prepared foods and related allied products worldwide. … Tyson Foods announced it is initiating an offering, subject to market and other conditions, of $500 million of unsecured senior notes due 2014. The company intends to use the proceeds from the note offering to repay borrowings and terminate commitments under its existing accounts receivables facility, repay and/or refinance other indebtedness and for other general corporate purposes.”
The Trade Alert author also featured Saks’ strategy to cut jobs and reduce compensation and pension plans:
“Saks Inc. (SKS) shares closed Friday at $1.70, up .59% from its previous close of $1.69. Saks, a fashion retail company, together with its subsidiaries, operates fashion retail stores under the brand names of Saks Fifth Avenue (SFA), Off Fifth and Club Libby Lu (CLL) offering a range of luxury fashion apparel, shoes, accessories, jewelry, cosmetics and gifts. … Hurt by the softening of the luxury market, which began in the fall with the severe economic downturn, Saks reported that it had sales of $141 million in January, down from $190 million last year, a 22.7% decrease adjusted to 23.7% on a same-store comparison basis. … As a response to its salesoff, the company will undertake serious job cuts, as much as 9% of its workforce, a reduction in some compensation and pension plans and an overall reduction in capital spending by at least half for 2009, with CEO Steve Sadove emphasizing the difficult year ahead.”
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