Tyson Stock Plunges After Profit Forecast Is Cut
Cattle prices eat into margins
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Tyson Foods Inc. fell the most in six years after the largest U.S. beef processor cut its full-year earnings forecast as higher cattle prices erode margins.
Profit excluding certain items will be $3.10 to $3.20 a share in fiscal 2015, the Springdale, Arkansas-based company said in a statement Monday. That compares with Tyson’s previous forecast of $3.30 to $3.40.