Business News

Eggs and Cigarettes

With two trading days left in September, stocks are testing this year's lows as investors fret over perceived slower economic growth in the U.S. and China, and falling oil prices. (CNBC)
 
Cal-Maine Foods, the nation’s largest egg producer reported quarterly profits increased 454% on sales of $610 million.  The outbreak of avian flu that hit the U.S. chicken and egg suppliers earlier this year has led to record high egg prices. During the quarter, Cal-Maine sold nearly 259 million dozen eggs at a net average selling price of $2.24 per dozen. In the year ago quarter, the company sold about 252 million dozen eggs at a net average selling price of $1.35 per dozen. (Wall St. 24/7)
 
Reynolds American, who just closed their acquisition of Lorillard, announced a $5 billion deal to sell assets to Japan Tobacco. The assets include trademarks for the Natural American Spirit cigarette brand outside the U.S. (Market Watch)
 

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