Breaking: Tyson Foods Q3 Misses Mark; Ginkgo Bioworks' Merck Deal Shakes Up
- August 07th, 2023
- 537 views
Tyson Foods, Inc. (NYSE: TSN) has released its third-quarter fiscal 2023 financial results, reporting adjusted earnings per share (EPS) of $0.15 and revenues totaling $13.14 billion. These figures fell short of market consensus estimates of $0.26 EPS on revenues of $13.59 billion.
$TSN was trading at $52.67 in pre-market, down $3.79 (-6.71%).
In other news, Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) has unveiled a strategic partnership with Merck & Co., Inc. (NYSE: MRK).
The collaboration agreement, which marks the second between the companies and is aimed at improving biologic manufacturing, outlines the potential for Ginkgo to receive up to $490 million, encompassing upfront research fees, milestones, and commercial payments.
In pre-market, $DNA was trading at $2.18, reflecting an increase of $0.14 (+6.86%).
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