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DAILY EARNINGS

Tyson Foods Net Surges 52%, Intl Game Net Swing to Loss


Author: Mukesh Buch
ticker.com
Last Update: 2:18 AM ET November 21 2016

12:00 PM New York Cubic third-quarter net swung to a loss of $8 million. International Game Technology third-quarter net swung to a loss but revenues jumped 5% to $1.3 billion. Tyson Foods fourth-quarter net surged 52% to $391 million.

Tollbooth Index increased 60.34 or 0.6% to 11,019.30.

Earnings Review

Cubic Corporation (CUB) plunged 9.2% or $4.55 to $44.70 after the secure communications services provider said sales in the third-quarter ending in September declined 5% from a year ago to $406.6 million.

Net in the quarter swung to a loss of $7.5 million or 29 cents per diluted share compared to the profit of $20 million or 74 cents per share from the same quarter last year.

The secure communications services provider forecasted revenues in fiscal 2017 between $1.51 billion and $1.56 billion; net income in the range of $10 million to $20 million and diluted earnings per share in the range of 40 cents to 80 cents.

International Game Technology Plc dropped 3.8% or $1.15 to $29 after the lottery and gaming services provider reported revenues in the third-quarter ending in September jumped 5% from a year ago to $1.3 billion.

Net in the quarter swung to a loss of $1.9 million or 1 cent per diluted share compared to the profit of $7.1 million or 4 cents per share from the same quarter last year.

Tyson Foods, Inc (TSN) tumbled 16.2% or $10.88 to $56.48 after meat processor said sales in the fourth-quarter ending on October 1 declined 12.8% from a year ago to $9.2 billion.

Net income in the quarter surged 51.6% to $391 million or $1.03 per diluted share compared to the $258 million or 63 cents per share from the same quarter last year.

Tyson forecasted earnings per share in the year in the range of $4.70 to $4.85 and estimated flat sales.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc