Arkansas Business: Stocks have slight gains and losses yesterday

LITTLE ROCK, Ark. (Arkansas Business) -- Stocks drifted between slight gains and losses all day yesterday as companies continued to turn in earnings results.

But there was also some big corporate deals. Shares of Dollar Tree rose after it announced that it would purchase its discount store rival Family Dollar for about $8.5 billion.

Family Dollar has been struggling, cutting prices, laying off workers and closing stores.

And shares of real estate listing website Trulia jumped on news that Zillow, a company that operates a similar site, said it has agreed to buy Trulia for $3.5 billion.

Tyson making room for Hillshire purchase

Tyson Foods Inc. of Springdale is making room for its previously announced $8.5 billion purchase of Hillshire Brands of Chicago.

The meat processor said it will sell its poultry business in Mexico and Brazil to the parent company of Pilgrim's Pride for $575 million in cash.

Tyson will use the money to help pay debt associated with the Hillshire purchase. It's also going to sell stock and other equity to public.

Meanwhile, the company also issued its third-quarter earnings report on Monday.

The firm reported earnings per share of 73 cents, up from 69 cents a year ago.

Revenue was $9.6 billion, up 11 percent from the same quarter of 2013. Tyson is calling it a record quarter for earnings.

PAM Transportation reports earnings

PAM Transportation of Tontitown is also reporting earnings.

The company said second-quarter profit reached $4.9 million, up 81 percent from the same quarter last year.

Earning per share increased 100 percent to 62 cents.

President Dan Cushman cited growth in the company's various divisions, including in Mexico.

And he said the company has been successful in growing its dedicated customer base.

Another Arkansas trucking company, USA Truck of Van Buren, is set to report earnings on Thursday.


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