Post Tumbles on Concern That Bird Flu Will Weigh on Costs
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Post Holdings Inc. shares fell 8.2 percent after the breakfast-food company said that bird flu has spread to more of its egg supply, raising concern that the outbreak will inflate its costs.
Post now estimates that about 20 percent of its egg supply is affected by bird flu, according to a statement Wednesday. That’s up from an estimate of 14 percent. The situation has plunged Post into a period of “extreme uncertainty,” Tim Ramey, an analyst at Pivotal Research Group, said in a report.