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SAFM : Modest Upside and Possible Short Squeeze
SAFM
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-9.35%
in
908 days
Sandersons Farms (Nasdaq:SAFM) is the third largest publicly traded chicken producer in the US, behind Pilgrim’s Pride (NYSE:PPC) and Tyson (NYSE:TSN). Stocks of chicken producers have been badly battered in the last couple of years, first by the avian flu scare, and then by the high cost of corn feed. The sharply rising cost [...]
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From the Blogosphere
Tyson Foods downgraded by JPMorgan
Filed under: Analyst upgrades and downgrades, Tyson Foods'A' (TSN)  Bright and early on this fine Wednesday morning, JPMorgan downgraded Tyson Foods (TSN) to Neutral from Overweight. The brokerage gave four reasons for the downgrade: valuation, recent rises in corn and hog prices, a looming supply increase from competitor Sanderson Farms (SAFM), and uncertainty from Pilgrim's Pride.
All of these reasons are perfectly valid for the downgrade, but I want to focus on the valuation aspect of the downgrade. Technically, TSN faces overhead resistance in the $14 region, which is significant as the s...
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Sanderson Farms' Prayers Were Answered
When I last commented on Sanderson Farms (SAFM) in August 2008, their CEO Joe Sanderson was praying for a miracle.
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Sanderson Farms: Good Risk-Reward from the Long Side
The current share price does not reflect fair value for Sanderson Farms (SAFM). I believe the company has 40%+ upside from current levels and the unlike much of corporate America, current catalysts are to the upside, as input costs (namely feed costs) will decline dramatically in 2009 YOY. I recommend initiating a ¾ position at current levels, going to full position at $25/share. Background
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Earnings results and economic reports - Week 49.
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Monday:
Economic Construction Spending (-0.9%), ISM (38.0)
Earnings Shanda (SNDA), Zoltek (ZOLT)
Tuesday:
Economic Truck / Auto
Earnings Beazer (BZH), Sears (SHLD), Solarfun (SOLF), Staples (SPLS), Marvell (MRVL)
Wednesday:
Economic Weekly Crude, ADP (-173K), Productivity (0.9%), ISM Services (42.6), Beige Book
Earnings Del Monte (DLM), Aeropostale (ARO), AeroVironment (AVAV), Casey’s (CASY), Diamond Foods (DMND), Synopsys (SNPS)
Thursday:
Economic Weekly Claims, Factory Orders (-2.7%)
Earnings Argon (STST), Jackson Hewitt (JTX), Sanderson (SAFM), Movado (MOV), Toll Bros (TOL), UTI World (UTIW)...
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Option Update: HRL, SAFM, PPC, SFD, TSN volatility elevated on record low prices
Filed under: Hormel Foods (HRL), Tyson Foods'A' (TSN), Smithfield Foods (SFD), Options  Hormel Foods (NYSE: HRL) closed at $28.44 Tuesday. HRL is scheduled to report Q4 EPS on November 25. HRL overall option implied volatility of 41 is above its 26-week average of 30 according to Track Data, suggesting larger price movement.
<>Sanderson Farms (NYSE: SAFM) closed at $27.49 Tuesday. SAFM filed a $1 billion shelf registration for common and preferred shares on October 9 on the anticipation of using the proceeds to fund acquisitions. SAFM November option implied volatility of 91 is above its 26-week...
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About Sanderson Farms Inc.
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