Why Smithfield Foods Stock Sank This Week
Smithfield's Q2 results beat expectations, but the company's updated guidance brought bad news for investors.
Overview
Smithfield Foods (NASDAQ: SFD) stock got hit with a double-digit sell-off this week in response to the company's second-quarter report. Its share price ended the week down 10.3% from the previous week's close.
Smithfield released its Q2 report on Tuesday, and sales and earnings for the period actually came in ahead of Wall Street's expectations. Unfortunately, performance will likely weaken in the second half of the year -- and the company lowered its full-year guidance.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.