Closing Bell cover image

Closing Bell

Closing Bell Overtime: What Nvidia’s New AI Chip Means For Investors; What Both Sides Need From China-U.S. Sideline Talks This Week 11/13/23

Nov 13, 2023
Solus' Dan Greenhaus and Edward Jones' Mona Mahajan discuss market action and year-end investing. Bernstein's Stacy Rasgon shares insights on Nvidia's new AI chip. The Blueshirt Group's Gary Dvorchak talks about sideline talks between China and the US. Janus Henderson's Adam Hetts discusses finding value in investments. Courtney Reagan looks ahead to retail earnings and interviews Tyson CEO on consumer behavior changes.
44:40

Podcast summary created with Snipd AI

Quick takeaways

  • Tyson Foods is facing challenges in its chicken, pork, and beef segments due to oversupply, high feed costs, and low cattle inventories.
  • Retailers are approaching Q4 earnings with caution as apparel sales decline, store traffic drops, and cost pressures persist.

Deep dives

Mixed earnings and disappointing guidance weigh on Tyson Foods stock

Tyson Foods reported mixed earnings results, with a revenue miss and disappointing guidance. The chicken and pork segments faced challenges due to oversupply and high feed costs. However, the company expects improvement in cash flow and profitability in the coming year. Tyson plans to produce more bacon to offset pork glut and sees signs of recovery in the chicken segment. The beef segment faces pressures from low cattle inventories, resulting in higher costs and retail prices. Tyson is focusing on growing its prepared foods business and investing in automation to address labor challenges.

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