CNN Money's Maribel Aber has your top business and financial news on this Tuesday, May 6.
NEW YORK, NY (CNN) - CNN Money's Maribel Aber has your top business and financial news on this Tuesday, May 6.
Tyson Foods Inc. of Springdale on Monday reported record second-quarter profit, which rose 124 percent to $213 million from the same time last year. The publicly traded meat processor (NYSE: TSN) said earnings per share was 60 cents, up from 26 cents in the same quarter last year. Revenue was $9.03 billion, up 8 percent from $8.38 billion in the same quarter last year. In all, Tyson Foods missed analysts forecasts of earnings of 63 cents per share, but it beat revenue predictions of $8.84 billion.
Coca-Cola is removing a chemical linked with fire retardants from all its drinks by the end of the year. Brominated vegetable oil, also known as BVO, contains bromine which is used as a flame retardant in plastics, upholstered furniture, and some clothing for children and is not approved for use in foods in Japan and the European Union. Coca-Cola (KO, Fortune 500) uses the chemical in Fanta, Fresca and some citrus flavored fountain drinks. The move to remove BVO from drinks originated in a Change.org petition started by Mississippi teenager Sarah Kavanagh in 2012.
Highways and bridges -- and other critical parts of the nation's transportation infrastructure such as railways -- need serious upgrades and repairs. How serious? The American Society of Civil Engineers gives U.S. infrastructure a D+ in terms of condition and performance. But federal transportation funding has been highly uncertain for years. And this year is no exception. The Highway Trust Fund, which is primarily supported by the federal gas tax, is facing a shortfall this summer. So if Congress doesn't act soon, the government will have to slow payments to states.
Twitter Inc. (TWTR:US) signed a deal with Amazon.com Inc. (AMZN:US) to let users shop directly from posts on its microblogging service, part of a push to add e-commerce options for advertisers. When product links appear in a tweet, U.S. customers can add the items to their Amazon shopping carts by replying to the post with the hashtag #AmazonCart, the companies said today in a statement. While Twitter won't get a cut of individual sales, Amazon will increase spending on Twitter advertising products, said a person with knowledge of the matter, who asked not to be identified because terms aren't public.