Tyson Foods Inc. (TSN, Financial) rose on the back of the company reporting its financial results for the fourth quarter. The company posted EPS of $1.43, beating estimates by five cents. Revenue of $10.15 billion beat expectations of $9.89 billion.
President and CEO Tom Hayes commented on the company's fourth-quarter performance.
“We delivered well over our goals of at least 4 percent operating income growth, EPS growth in the high single digits and 3 percent volume growth in value-added products, and expect to meet or exceed these goals again in fiscal 2018."
The company now expects adjusted earnings to grow 7% to 10% to $5.70 to $5.85 per share.Tyson calculates capital expenditures of $1.4 billion in fiscal 2018 while deleveraging the balance sheet.
The company plans to grow its business via differentiated capabilities, which includes an improved portfolio of protein-packed brands.
In other news, shares of Exact Sciences Corp. (EXAS) traded lower on Monday. Analysts at Robert W. Baird were more bearish on the company as they downgraded it to neutral from outperform with a price target of $56 per share.
Shares of The Home Depot Inc. (HD, Financial) were higher today as investors are waiting for tomorrow's earnings report. The market expects the retailer to report revenue of $24.5 billion and EPS of $1.82 for the third quarter. Despite the adverse effects of the recent hurricanes, RBC Capital expects a 5.3% gain in U.S. same-store sales.
Disclosure: The author holds no positions in any stocks mentioned.
