Tyson Foods announced mixed fiscal second-quarter results
Meat industry stalwart Tyson Foods Inc (NYSE:TSN) is down 9.5% at $54.99 at last glance. The company posted better-than-expected fiscal second-quarter earnings amid strong chicken sales, though profits decreased from the same quarter a year ago. Revenue missed estimates, however.
TSN is headed for its worst daily percentage drop since May 2023, and trading at its lowest levels since January. Dropping into the red for 2025, the equity is now below all short- and long-term trendlines between the 20- and 320-day moving averages.
Over in the options pits, 2,418 calls and 6,454 puts have crossed the tape, which is 3.6 times the average daily options volume already. The June 57.50 put is the most popular, with new positions opening at the May 55 put.
Analysts have yet to chime in on the results, though seven in coverage already carry a "hold" rating, with only two a "buy." Meanwhile, the stock's 12-month consensus price target of $66.49 is at the site of its 2024 highs, but is now a hefty premium to current levels.