Meatless
Tyson Foods shares fell 7.8% to $55.35 Monday after the meat supplier forecast lower output and higher costs, with the industry’s outlook so murky it couldn’t offer annual financial guidance. Shares closed Friday at $60.39.
Online retailing bounce
Wayfair shares rose 25% to $167.78 Tuesday after the online home decor retailer reported better-than-expected first-quarter results as active customers increased nearly 29% year-over-year to 21.1 million. Shares closed the week at $188.05.
Beyond the bottom line
PayPal rose 11.5% to $143.07 Thursday despite earnings that fell short of expectations as investors focused on the payment platform’s strong April, when it added a record 7.4 million net new active accounts and a surge in daily transactions. Shares closed the week at $144.96.
Earnings still count
Semiconductor company KLA Corp. rose 6.5% to $165.80 Wednesday after it reported stronger earnings for the latest quarter than expected. Shares closed Friday at $171.50.
Oil fallout
Occidental Petroleum Corp. declined 12.5% to $13.40 Wednesday after it reported a quarterly loss and said it took a $1.4 billion write-down related to an investment in a pipeline affiliate, cut capital spending and withdrew its guidance for the year after a historic collapse in oil prices. Shares closed Friday at $15.02.
Failed to deliver
GrubHub Inc. shares fell more than 13.7% to $43.86 Thursday after the company missed earnings expectations despite a delivery uptick due to the COVID-19 pandemic. Shares closed Friday at $46.82.
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Market review: Meat industry shares suffer with a murky outlook - Minneapolis Star Tribune
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