New Zealand picked
for poultry facility
Cobb-Vantress Inc., said Wednesday that it's investing $40 million into a New Zealand facility that will produce chickens for growing markets in Asia.
The Siloam Springs-based poultry genetics company selected the 368-acre site because of the country's low avian disease records and its proximity to Asia Pacific, the breeder's fastest-growing region, according to a news release.
"We have achieved our goal to be Asia's breed of choice in the Asia Pacific broiler market," said Pelayo Casanovas, general manager of Cobb Asia-Pacific, in the news release. "And we plan for Cobb New Zealand to further strengthen our relationships in the region and beyond."
The new facility will deliver 2 million chickens per year, beginning in February 2019. The chickens' offspring will be exported to distributors and Cobb's operation in China to meet Asian demand.
Cobb-Vantress, a subsidiary of Tyson Foods, distributes poultry to more than 120 countries.
-- Nathan Owens
Wal-Mart to release
its 3Q results today
Wal-Mart Stores Inc. will release its third-quarter financial results today. A recorded conference call and quarterly earnings news release will be available around 6 a.m.
Analysts estimate Wal-Mart will post revenue of $121 billion and earnings per share of 97 cents for the quarter, according to Yahoo Finance. Wal-Mart posted revenue of $118.2 billion and earnings per share of 98 cents during the same three-month period a year ago.
The Wal-Mart call can be accessed in the United States and Canada by dialing (877) 523-5612 and entering access code 9256278 followed by the pound sign. All other callers can dial (201) 689-8483 and enter the same access code followed by the pound sign.
Shares of Wal-Mart stock reached record levels earlier this week and closed trading Wednesday at $89.83, down $1.26.
-- Robbie Neiswanger
State index closes
with a loss of 2.76
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, dropped 2.76 to 378.49 Wednesday.
"Energy stocks led Wednesday's sell-off in equities due to lower crude oil prices as weakness in the broader market accelerate following new index highs set last week," said Leon Lants, managing director at Stephens Inc. in Little Rock.
Total volume for the index was 24.1 million shares.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 11/16/2017