Tyson Foods (TSN) has been up as much as 5% in early trading on its earnings which were released this morning. The company easily beat estimates for the quarter: 69-cents a share, when expectations had been for 60-cents. They were 50-cents a year ago. As for revenue, it came in at $8.73 billion, also beating the consensus. Tyson says its chicken unit has surged to record earnings. Meanwhile its beef division has been on the rebound. The stock is up 43% year-to-date. It has more than doubled in price over the past year, and set a new record-high at the close on Friday.
CBS (CBS) is embroiled in a cable fray with Time Warner Cable (TWC). On Friday, the cable giant began blocking CBS and its networks including Showtime amid a fee dispute. At this point, there's no resolution in sight, with the sides giving conflicting reports about whether they're even negotiating. CBS is up 39% year-to-date, following a fractional retreat on Friday from that record high. For its part, Time Warner Cable is up 18-percent in that time.
Sticking with the cable guys, Charter Communications (CHTR) rose on Friday following reports that it's in talks with Cox Communications, a larger, privately held competitor. At this point, details of a proposal remain unclear, including which company might acquire the other. Shares of Charter are up 72% year-to-date. On a related note, Cablevision (CVC) CEO James Dolan tells the Wall Street Journal, the future for cable companies now lies in broadband, and there could come a day when his company stops offering TV altogether.
Finally Jamba (JMBA) reports after the closing bell. It's been down as much as 4.3% since Friday's close. But it rose 4.6% during the regular trading day to make for a weekly gain of more than 6%. Jamba has more than 800 juice stores in its chain. About 40% of them are company-owned and the rest are franchised. Analysts are looking for the company to post earnings of 37-cents a share up from 25-cents a year ago on revenue that's risen to more than $70-million.
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