Shares of Tyson fell 7% to a 52-week low Monday after the food company cut its full-year guidance on trade worries related to the Trump administration's imposition of tariffs and a turbulent commodities market, reports CNBC.
The international food company now expects adjusted earnings for fiscal year 2018 at approximately $5.70 to $6.00, down from a range of $6.55 to $6.70.
"The combination of changing global trade policies here and abroad, and the uncertainty of any resolution, have created a challenging market environment of increased volatility, lower prices and oversupply of protein," says Tom Hayes, Tyson Foods president and chief executive officer. "We will continue to watch these conditions carefully."
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