News in brief

Tyson set to release 4Q earnings report

Tyson Foods Inc. will release its fiscal 2019 fourth-quarter earnings report and will host a conference call to discuss the results today.

Stephens Inc. expects Tyson's sales to top last year's results for the three months ending Sept. 30, and it forecasts earnings per share of $1.13. That is lower than FactSet's consensus of $1.30 and is less than the $1.58 that Tyson posted a year ago.

Tyson lowered its earnings guidance in September, citing a variety of short-term challenges. The reversal of a mark-to-market gain on grain derivatives, a beef processing plant fire and slower-than-expected improvements in Tyson's chicken business factored into the guidance cut.

The effects of African swine fever, a disease that has killed a vast number of hogs in Asia, are expected to be long term but will benefit U.S. meatpackers, Stephens analyst Ben Bienvenu said in a research brief.

"We believe ASF driven price inflation will more than offset transitory headwinds the company is facing near term," he wrote.

Tyson will hold its conference call with analysts at 8 a.m. to review the results. Callers can dial 1-844-890-1795 to listen. The call is also available at ir.tyson.com.

-- Nathan Owens

Fracking-sand firm's stock plummets 47%

Shares of Carbo Ceramics Inc. plunged 47% Monday after it warned investors that it may fail as a going concern in part because its largest fracking-sand customer halted purchases.

The slump was the fracking-sand provider's worst since its 1996 debut as a public company. The Houston-based company issued the warning in a statement after equity markets closed Friday.

Carbo's biggest sand client notified the company after the end of the third quarter that it would discontinue purchases, according to the statement. The company also is bracing for a weakening in the fracking-sand market going into 2020.

The oil industry's biggest hired hands have been warning that demand for crews and equipment used for fracking at oil and natural gas wells will continue to drop. Carbo has lost more than $3 billion in market value since the worst crude crash in a generation began five years ago.

Carbo shares fell 74 cents to close Monday at 82 cents in New York trading.

-- Bloomberg News

Arkansas Index falls 3.28, ends at 456.65

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Monday at 456.65, down 3.28.

"Stocks closed mixed on Monday, as investors wait to see more information regarding our economy and any real progress regarding the U.S.-China trade war," said Chris Harkins, managing director at Raymond James & Associates in Little Rock.

The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.

Business on 11/12/2019

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