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Tyson tumbles as it misses profit forecast

Tyson produces and markets chicken, beef, pork, prepared foods, and related products.
GLOBE FILE PHOTO
Tyson produces and markets chicken, beef, pork, prepared foods, and related products.
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Tyson Foods Inc. tumbled 3.3 percent for the biggest decline in the S&P 500 index. The Springdale, Ark., company, which is the largest meat processor in the United States, reported that its earnings in the second quarter were 36 cents a share. That missed the average analyst estimate by 9 cents. Tyson’s quarterly net income sank 42 percent as costs for chicken feed rose. Sales were $8.42 billion, falling short of the $8.57 billion projected.