Bad Boy completes ATV-factory project
Bad Boy Mowers will celebrate the firm’s completion of a recent expansion of its affiliated company, Intimidator Inc., at a ceremony today in Batesville.
The Intimidator is Bad Boy’s new all-terrain vehicle. The first of the Intimidators will be presented to Tim Hudson, chancellor of Arkansas State University.
Bad Boy announced in March 2012 that it would invest $7.4 million and hire 150 workers over five years to manufacture the vehicles. The company completed the new facility in January, said Scott Lancaster, general counsel at Bad Boy.
Bad Boy will begin shipping the new vehicles to its dealers today, Lancaster said.
The company is best known for its line of mowers, which range in price from $2,900 to $4,999. It sells more than 25,000 mowers a year.
- David Smith
Earnings forecasts rise for Tyson Foods
Some meat industry analysts raised their earnings forecasts for Tyson Foods Inc. after Monday’s third-quarter earnings report, according to industry website meatingplace.com.
At Stephens Inc., Farha Aslam raised the forecast for Tyson’s fiscal 2013 to $2.25 a share from $2.10, citing greater optimism for beef and poultry in the fourth quarter. Aslam also raised the forecast for fiscal 2014 to $3 a share from $2.65.
Kenneth Zaslow increased his forecast for fiscal 2013 to $2.24 a share from $2.15, also citing improved chicken and beef margins. His forecast for fiscal 2014 is now $2.93 a share, up from $2.80.
Ken Goldman, analyst at J.P. Morgan, raised his 2014 earnings forecast to $3.19 a share from $2.96, citing expectations for lower corn prices.
- Steve Painter
Following U.S. lead, state index falls 3.45
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, dropped 3.45 to 293.41 Tuesday.
“Indications from two Federal Reserve officials that the central bank could soon begin tapering their $85 billion-a-month economic stimulus bond buying program are being blamed after U.S. stocks posted their biggest drop in more than a month,” said Bob Williams, senior vice president and managing director of Delta Trust Investments Inc. in Little Rock.
Tyson Foods set another 52-week high while gaining 3.4 percent on heavy volume, Williams said. Arkansas Best shares fell nearly 6 percent while Dillard’s fell almost 3 percent, Williams said.
Volume for the index was 27.4 million shares.
The index was developed by Bloomberg News and the Arkansas Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business, Pages 25 on 08/07/2013