GMT EIGHT - Company

"Microsoft Corporation (MSFT.US) 'loosens its grip': Allows OpenAI to use other cloud services"

Microsoft Corporation (MSFT.US) has changed its longstanding agreement with OpenAI, now allowing the artificial intelligence startup to use cloud computing services from competitors. In a statement on Tuesday, Microsoft Corporation said that the agreement will continue until 2030, and when OpenAI seeks computing power to train and run AI models, Microsoft Corporation will have priority. Previously, Microsoft Corporation was the exclusive cloud provider for OpenAI, but last year Microsoft Corporation granted a one-time waiver, allowing the startup to purchase some capacity from Oracle Corporation (ORCL.US). Microsoft Corporation also stated that OpenAI can now build some of its own cloud computing capacity, mainly for research and model training. This change comes as OpenAI, SoftBank Group, and Oracle Corporation announced the establishment of a joint venture worth $50 billion to build cloud computing data centers in the United States. President Donald Trump announced the plan named "Stargate" on Tuesday. Microsoft Corporation stated that it will provide technology for the joint venture, but will not invest any money. Microsoft Corporation also stated that OpenAI recently made a "new significant" commitment to continue using Microsoft Corporation's Azure cloud services to support its AI products. Additionally, the Federal Trade Commission (FTC) released a report last Friday expressing concerns over Microsoft Corporation's investment of up to $13 billion in OpenAI, which could extend the tech giant's dominance in the cloud computing field to the emerging AI market. The FTC criticized the practice of cloud service giants investing in AI companies to benefit their own businesses. Many investments exist in the form of credits for cloud computing services, requiring AI startups to consume on these platforms, thus increasing the cost for AI startups to switch to collaboration platforms.

1 h ago

"Bitcoin whale" MicroStrategy (MSTR.US) approved for stock increase to continue to surge on the "buying coins" road.

Foreign media quoted the minutes of the shareholders' meeting as reporting that MicroStrategy shareholders have approved the company to increase its authorized Class A common stock by 30 times to help fund the purchase of Bitcoin. According to the records, shareholders approved increasing the authorized Class A common stock from 330 million shares to 10.3 billion shares, and the authorized preferred stock from 5 million shares to 1 billion shares. Both amendments were approved with 56% of the votes. MicroStrategy Chairman Michael Saylor owns approximately 47% of the voting rights of the company. The goal of company chairman and co-founder Michael Saylor is to increase the company's Bitcoin holdings. Due to the large purchase of Bitcoin, the company is now referred to as a "Bitcoin proxy," with approximately $49 billion worth of Bitcoin on its balance sheet at the recent price of $108,000 per Bitcoin. This increase in stock holdings will potentially make MicroStrategy's outstanding shares exceed those of the top five components of the Nasdaq 100 index, including NVIDIA Corporation, Apple Inc., Alphabet, and Amazon.com, Inc. Prior to the shareholder vote on Tuesday, the "Bitcoin financial company" announced a purchase of $1.1 billion in Bitcoin. MicroStrategy has been buying Bitcoin for 11 consecutive weeks and currently holds over $47 billion worth of Bitcoin, representing over 2% of all Bitcoin currently in existence. The company plans to raise $42 billion in funds by 2027 to continue holding Bitcoin. Since Donald Trump was elected president, expectations of regulatory oversight on cryptocurrency entering mainstream investment has led to a 35% surge in the value of the largest cryptocurrency, Bitcoin.

1 h ago

Johnson & Johnson's dual immunotherapy combination therapy receives EU approval for first-line treatment of lung cancer, reducing risk by 30%.

Johnson & Johnson (JNJ.US) announced today that the European Commission has approved the combination of Lazcluze (lazertinib) and Rybrevant (amivantamab) for first-line treatment of adult patients with advanced non-small cell lung cancer (NSCLC) carrying epidermal growth factor receptor (EGFR) exon 19 deletions (ex19del) or exon 21 L858R mutations. The approval by the European Commission is based on the results of the phase 3 clinical trial MARIPOSA. The study evaluated the efficacy of Lazcluze in combination with Rybrevant compared to the active control osimertinib for first-line treatment of NSCLC patients with the above-mentioned EGFR mutations. Analysis showed that the combination of Rybrevant with Lazcluze can reduce the risk of disease progression or death by 30% compared to the active control drug. The median progression-free survival (PFS) in the combination therapy group and the active control drug group was 23.7 months and 16.6 months, respectively. Additionally, the median duration of response (DOR) in the combination therapy group was 9 months longer than the active control drug group (25.8 months vs. 16.7 months). On January 7, 2025, Johnson & Johnson announced positive overall survival (OS) topline results, showing that the combination of Lazcluze with Rybrevant met the pre-specified secondary endpoint, providing a statistically significant and clinically meaningful improvement in OS compared to the current standard of care. These landmark OS data will be presented at an upcoming medical conference.

2 h ago

The FDA has approved Johnson & Johnson's Spravato (esketamine) nasal spray for the treatment of adults with treatment-resistant depression (TRD).

Johnson & Johnson (JNJ.US) announced on January 21 that the US FDA has approved its Spravato (esketamine) nasal spray for the treatment of treatment-resistant depression (TRD) in adult patients. Trial results show that Spravato reached the primary endpoint at week 4. Additionally, compared to placebo, it rapidly and significantly improved depressive symptoms in patients within 24 hours. According to the press release, Spravato is the first monotherapy approved to treat adult patients with major depressive disorder (MDD) who have had an inadequate response to at least two oral antidepressants. Currently, approximately 1 in 8 people worldwide suffer from mental illness. Depression is one of the most common mental illnesses, affecting around 280 million people globally. Meanwhile, nearly two-thirds of depression patients do not achieve adequate relief from current treatments. When patients with severe depression do not respond to two or more treatment methods, they may progress to treatment-resistant depression, creating a significant need for new treatment options. The approval was based on positive results from a randomized, double-blind, multicenter, placebo-controlled study. Analysis shows that Spravato monotherapy demonstrated rapid and significant efficacy compared to placebo in improving the total score on the Montgomery-sberg Depression Rating Scale (MADRS). By day 28, Spravato showed numeric improvement in all 10 MADRS items. At week 4, 7.6% of the placebo group and 22.5% of the Spravato group achieved remission (MADRS total score 12). Previous trial results also indicate that patients experienced rapid improvement in the MADRS total score within 24 hours of their first treatment with Spravato, with this change persisting for at least 4 weeks. Spravato nasal spray is a non-selective, non-competitive NMDA receptor antagonist that may help restore neural connections in the brains of patients with depression.

2 h ago

Content is king! Netflix (NFLX.US) has once again won the "streaming game".

Tuesday, Netflix (NFLX.US) solidified its dominant position in the streaming video market by combining live sports events, popular returning series, and unique content such as Beyonce's NFL halftime show, helping it attract a record number of users during the holiday season. In this context, Netflix released record fourth-quarter earnings, with revenue and profits once again exceeding analyst expectations, and added billions of dollars to its share buyback program. User Growth: Relying on Quality Content The streaming pioneer added a record 18.91 million net new users in the quarter, a 44% increase year-over-year, more than twice the expected 9.18 million, bringing its global user base to over 300 million. Growth in these numbers exceeded 70% year-over-year in three regions, including its more mature domestic market of the US/Canada (adding 4.82 million, or 72%, compared to an expected 1.75 million). User growth in the Asia Pacific region was 70%, Latin America grew by 77%, and Europe/Middle East/Africa markets added 5 million, a 1% decline year-over-year. The company's previous best record was 15 million in the first quarter of 2020, driven by the outbreak of the pandemic. Netflix attributed its record membership growth to "broad content strength, product/market fit improvements in all regions, and typical seasonality for the fourth quarter." It also attracted new sign-ups due to recent key content changes, including the second season of its hit series "Squid Game" and the arrival of major sports events such as the boxing match between Mike Tyson and Jake Paul, WWE Raw, and Christmas NFL games. The success of the second season of "Squid Game" also drove subscription growth, making it the platform's largest premiere to date, with 68 million views in the first week alone. According to research firm Antenna, the boxing match between Jake Paul and Mike Tyson set a record for registrations, even surpassing Netflix's first NFL game. The company stated that this event attracted 1.08 billion viewers globally, making it the largest sports event in history in terms of viewership. The global average viewership for the two NFL games Netflix hosted on Christmas reached 30 million, becoming the most-watched football game in history. Earlier this month, Netflix also added WWE "Raw" live. Mike Proulx, head of research at Forrester Research, stated, "It's obvious that content is driving user engagement with streaming services. With the largest subscriber growth numbers, Netflix's focus on high-quality content is a major reason for its strong performance this year and in the fourth quarter." Meanwhile, Netflix announced that this would be the last quarter it reports user numbers, as the company will focus on sales and profits. Previously, its crackdown on password sharing led to a surge in new users. Analysts and investors had expected the benefits of this effort to gradually diminish, but Netflix just announced its biggest year of user additions ever, adding 41 million new customers. Seeking Alpha analyst Brett Ashcroft Green responded, "It will take a quarter to break down how many new subscribers are due to organic content additions and how... In terms of price increases, Netflix stated, "As we continue to invest in programming to provide more value to members, we occasionally ask members to pay a bit more so we can reinvest further to improve Netflix. For this reason, we are adjusting prices for most plans in the US, Canada, Portugal, and Argentina today (affecting our 2025 guidance provided in October 2024)." In the fourth quarter, Netflix's increasingly important ad-supported service accounted for 55% of registered users in the country, with ad-supported plan membership increasing by 30% compared to the previous quarter. Building on this success, the streaming company announced an additional ad-supported membership plan to expand its footprint in 10 out of 12 "advertising countries." Last November, Netflix launched its first-party ad technology platform in Canada. Live programs such as sports events are also crucial to Netflix's expansion in the advertising business. The company shows ads to all members during football and wrestling matches, not just those on lower-priced, ad-supported plans. The streaming giant is planning to enhance its core business further in 2025, launching more series and movies, improving user product experiences, while continuing to develop the advertising business. Additionally, the company will delve into live events and gaming. In 2025, Netflix will see the return of popular series like "Stranger Things" and "Wednesday," which are expected to further attract users and drive growth. The company has secured the broadcast rights for the FIFA Women's World Cup in 2027 and 2031. Netflix stated that this deal showcases its strategy of offering special event programs rather than regular sports programs. Monetization: Price Increases Alongside Advertising Netflix will increase its prices in the US, Canada, Portugal, and Argentina. The price hike announced on Tuesday will raise the standard monthly fee without ads from $15.49 to $17.99, while the standard monthly fee with ads will increase by $1 to $7.99. The premium package with the highest price, including 4K video quality, will increase by $2 to $24.99. Regarding the price increase, Netflix stated, "As we continue to invest in programming to provide more value to members, we occasionally ask members to pay a bit more so we can reinvest further to improve Netflix. For this reason, we are adjusting prices for most plans in the US, Canada, Portugal, and Argentina today (affecting our 2025 guidance provided in October 2024)." In the fourth quarter, Netflix's increasingly important ad-supported service accounted...The advertising sector is slow to start and is expected to not generate substantial economic benefits until before 2026. However, it has already made progress. Most new customers in 12 markets choose advertising plans, the company said that by the end of this year, it will have enough scale to meet the needs of advertisers.The company wrote in the letter, "Our newly established live broadcast program has already provided some must-see moments. Although our live broadcast program may only account for a small portion of our total viewing time and content costs, we believe that this balanced nature will bring tremendous value to our members and our business." Analyst Tim Nollen of Macquarie Securities predicts that as more people sign up for the company's advertising-supported plan, and as Netflix's advertising technology matures, Netflix's ad revenue this year will increase to $20 billion, with live events continuing to drive user sign-ups. As streaming services increase monthly costs and push users towards lower-priced ad-supported plans to increase profitability, this price increase is the latest for consumers. In recent years, companies like Walt Disney Company, HBO, Peacock, Apple Inc., and others have raised prices. Netflix last raised its standard package price in 2022. Seeking Alpha analyst Max Greve said, "This is almost a home run. The company's performance outshines others. The price increase demonstrates management's confidence in their continued focus on pay-sharing and ad-centered approaches. This confidence is justified as subscriptions remain strong. Some of the strongest growth has been in the US and Canada region, which is their highest revenue region. To be honest, such reports are hard to feel optimistic about. One concern may be the scale of sports programming and whether sports programming will dominate entertainment programming as it has on cable television. But this is speculation, and as the market reaction clearly shows, management's strong execution over the past 30 years has benefited them from such doubts." Nevertheless, the surge in advertising and paid subscriptions solidifies Netflix's dominant position in the streaming field. In recent years, as traditional cable TV and broadcast business shrinks, traditional media companies have invested billions to launch their own streaming services to compete with Netflix. While some competitors, including Walt Disney Company and Warner Bros Discovery, have recently turned a profit in the streaming field, they have struggled to match Netflix's market share. Netflix is the most subscribed OTT streaming service in the US, accounting for 30.8% of total OTT subscription revenues in the US. Therefore, Netflix leads in SVOD (subscription video-on-demand) revenue. PP Foresight analyst Paolo Pescatore said, "Netflix has strengthened its leadership position in the streaming market, it is certainly ahead. Compared to competitors, it is now showcasing its strength by adjusting prices, as its program lineup is much stronger and more diverse." Profit Margin The company reported a 16% increase in revenue this quarter, reaching $10.2 billion, its largest increase since the end of 2021, and indicated that sales growth will be faster than expected by 2025. This growth will be partly driven by price hikes. As the company continues to downplay quarterly membership and revenue forecasts, profit margins are increasingly under scrutiny - its fourth-quarter operating margin was 22.2%, significantly higher than a year ago's 16.9% (but still the lowest margin since the fourth quarter of 2024; the third-quarter margin was 29.6%). Netflix expects an operating margin of 28.2% in the first quarter of this year, slightly higher than the 28.1% of the first quarter of 2024. Netflix expects first-quarter revenue to be $10.4 billion, earnings per share of $5.58, both slightly below Wall Street's average expectations. The company also expects revenue to reach $44.5 billion this year, up $5 billion from previous guidance, a 14% increase from the previous year, with an operating margin of 29%. The company also stated that its stock buyback program will increase by $15 billion, bringing the total authorization to $17.1 billion. Last year, Netflix repurchased 9.9 million shares of stock for $6.2 billion. Assuming no major fluctuations in foreign exchange, free cash flow is expected to reach around $8 billion by 2025, with content cash expenditures estimated at around $18 billion.

2 h ago

Weak sales dragging down Apple Inc. (AAPL.US) stock price, NVIDIA Corporation (NVDA.US) regains title as global market leader.

On Tuesday, the stock price of Apple Inc. (AAPL.US) further declined, continuing its recent downward trend, while at the same time, NVIDIA Corporation (NVDA.US) began to "overtake" Apple Inc. and once again become the player with the highest market value in the global stock market. In Tuesday's US stock trading, NVIDIA Corporation's market value exceeded $3.46 trillion, surpassing Apple Inc.'s market value of $3.33 trillion. As of the time of writing, NVIDIA Corporation rose 1.68% to $143.2 in after-hours trading, while Apple Inc. fell 2.7% to $222.03, even though the latter has bounced back from recent lows. The artificial intelligence chip manufacturer NVIDIA Corporation's market value had surpassed Apple Inc.'s in early November last year, but Apple Inc. reclaimed the top position later that month. On December 26th last year, Apple Inc.'s stock price hit a record high of $260.10, but has since dropped by approximately 15%. On Tuesday, after Jefferies Financial Group Inc. and Loop Capital downgraded Apple Inc.'s rating, the company's stock price fell by 4.6%. Jefferies Financial Group Inc. believes that due to the soft sales of Apple Inc.'s phones and the generally sluggish consumer electronics market, they downgraded the stock from neutral to underperform. It is reported that Apple Inc.'s first-quarter financial report will be released on January 30th. Earlier on Tuesday, Counterpoint Research stated that in the fourth quarter of 2024, iPhone sales in China suffered a "Waterloo", dropping by about 18%, while Chinese competitor Huawei took the top spot. The sluggish performance of the product in the Chinese market also led to a 5% decline in global sales, posing a challenge to iPhone sales. Meanwhile, on Tuesday, NVIDIA Corporation's stock price rose. Previously, UBS Group AG stated that they expect the company's latest Blackwell product line to bring in more revenue in the fourth quarter, reaching around $9 billion. Since NVIDIA Corporation released its last quarterly report in November of last year, the company's stock price has remained relatively flat.

3 h ago

Honeywell International Inc. (HON.US) plans to establish a research and development center under its subsidiary Quantinuum, causing a surge in the stock prices of US quantum computing companies.

Honeywell International Inc.'s Quantum Software division Quantumannounced the establishment of a new research and development center in New Mexico, and quantum computing stocks on the US stock market surged in response. Quantinuum stated that the planned center will focus on photonics technology, which will help advance ion trap quantum computing technology. Quantinuum President and CEO Rajeeb Hazra said, "As a leader in the field of quantum computing, Quantinuum has found an ideal partner in New Mexico. The state's vibrant technology ecosystem and highly skilled workforce align perfectly with our strategic goals." It was previously reported that Quantinuum will receive an investment of 800 million dollars, with 210 million dollars allocated by the state government, 220 million dollars allocated by the federal government, and an additional 350 million dollars from quantum companies investing in the state. Following the announcement, Honeywell International Inc. saw a 1.1% increase in its stock price, while other quantum computing stocks surged, with Arqit Quantum (ARQQ.US) rising by 9%, IonQ Inc (IONQ.US) and Quantum Computing (QUBT.US) rising by nearly 17%, D-Wave Quantum (QBTS.US) rising by over 19%, and Rigetti Computing (RGTI.US) skyrocketing by 42%.

3 h ago

Meta (META.US) plans to launch Oakley smart glasses and explore the development of smart watches and headphones.

Meta Platforms (META.US) is actively working on upgrading its popular smart glasses and exploring new wearable devices, such as watches and headphones with cameras, with the goal of embedding its artificial intelligence capabilities into more products. According to sources, these efforts include the development of smart glasses under the Oakley brand for athletes this year. Sources also indicate that Meta's device division, Reality Labs, plans to release new high-end glasses with built-in displays in 2025. Additionally, the company is developing products that will compete with Apple Inc.'s smartwatches and AirPods. Furthermore, the company is developing its first true augmented reality product, which is expected to be released around 2027. This product lineup, internally codenamed "Supernova," is part of Meta's efforts to reposition itself as an artificial intelligence innovator, focusing on hardware that can lead the next era of computing. The social media company has invested billions in the development of augmented and virtual reality, launching multiple versions of wearable devices and glasses, but has struggled to gain widespread consumer acceptance. Meta's current Ray-Ban glasses feature cameras, microphones, and other technologies. While they are not AR devices - devices that overlay data and images onto the real-world view - these glasses can take photos, analyze the surrounding environment, play music, and take calls. The "Supernova" product line will be expanded in three main ways. Firstly, Meta plans to push its existing Ray-Ban glasses into new markets. Secondly, Meta is expanding its smart glasses technology to other fashion brands under partner Luxottica Group SA. This includes a new version based on Oakley Sphaera glasses, called "Supernova 2," which moves the camera to the center of the frame and targets cyclists and other athletes. This year's biggest upgrade will be a new high-end product, codenamed "Hypernova," designed to be more similar to the current Ray-Ban glasses. This glasses will have a display screen at the bottom of the right lens, projecting information into the user's field of view. Users will be able to run simple software applications, view notifications, and see photos taken by the device - features closer to the long-promised AR experience. The device will also be priced higher. Some employees involved in the project expect the Hypernova glasses to be priced around $1,000, compared to the current starting price of $299 for Meta's Ray-Ban glasses. Meta is also testing a method for users to control the glasses using a wristband called "Ceres." The company has discussed including this accessory with the Hypernova glasses, which will also have touch controls on the frame legs. If the wristband accessory does not meet requirements, the frame leg method will become the standard input method. This wristband controller is similar to the one used for Meta's Orion prototype AR glasses showcased last year. The Hypernova glasses can also be used in conjunction with smartwatches, although Meta has not yet provided such a device. Over the past five years, Meta has been exploring the launch of a smartwatch to compete with companies like Apple Inc. and Samsung. However, the company has changed the details and priorities of the project, canceling and resuming it multiple times. Now, Meta is considering the idea of releasing a smartwatch as early as this year, with a display that can show photos taken with the company's smart glasses. Currently, Meta glasses are essentially an accessory to the user's smartphone, rather than a true replacement. However, the company is working on creating an integrated product that will allow consumers to do without carrying a phone and other devices. The Orion prototype is a step towards this goal. The company plans to start providing the device to software developers in 2026 for building and testing applications. When this glasses are widely released, they will be more appealing to consumers. Orion will never be released to customers. Instead, the company plans to start selling a follow-up version codenamed "Artemis" in 2027 at the earliest. Before actual shipments, Meta still needs to overcome challenges related to cost, display technology, and manufacturing. However, sources familiar with the Artemis prototype say that it is more advanced than the Orion test unit and is lighter - weight has always been a stumbling block for other wearable devices, including Apple Inc.'s Vision Pro. Meta is also developing a prototype with a built-in camera that competes with AirPods, allowing users to observe the outside world and take actions using artificial intelligence. If Meta decides to produce this earpiece for consumers, it is likely to take a few more years to hit the market. This device allows users to look at an object and have the earpiece analyze it. These features are similar to those provided by Meta's Ray-Ban smart glasses, but in a different form which has been well received by consumers. However, there are also challenges with the use of this product. For example, it may be more difficult for people with long hair to use this device. Meta is also not satisfied with the angle of the camera in the recent demonstration version. The headphone is internally referred to as "Camera Buds," and its development is still in the early stages. If the company cannot overcome these challenges, there is always the possibility of canceling the project. Reportedly, Apple Inc. is also exploring the idea of installing cameras on headphones and has made progress in this direction in recent months. According to other sources, Samsung, which sells headphones similar to Apple Inc.'s AirPods, is also considering launching headphones with cameras.

4 h ago

Infinity Natural Resources (INR.US) announced the terms of its IPO, which will issue 13.3 million shares of stock to raise $258 million.

American oil and gas producer Infinity Natural Resources (INR.US) announced the specific terms of its initial public offering (IPO) on Tuesday. The company is headquartered in Morgantown, West Virginia, and primarily engages in the production of oil and natural gas in the Utica and Marcellus shale regions. According to the plan, Infinity Natural Resources will raise $258 million by issuing 13.3 million shares at a price range of $18 to $21 per share. Based on the midpoint of the pricing range, the company's valuation will reach $1.1 billion. Infinity Natural Resources focuses on acquiring, operating, and developing oil and gas assets in the Utica shale (Ohio and Pennsylvania) and Marcellus shale (Pennsylvania). As of June 30, 2024, the company's net acreage reserves are approximately 90,000 acres, with a daily average production of 25,000 barrels of oil equivalent (Mboe/d) in the second quarter of 2024, with 29% being oil and 48% being liquid natural gas. As of December 31, 2023, the company's total proven reserves estimate is 141,587 thousand barrels of oil equivalent (MBoe), of which 48% have been developed. Infinity Natural Resources was founded in 2017 and recorded revenues of $262 million in the 12 months ending September 30, 2024. The company plans to list on the New York Stock Exchange (NYSE) under the ticker symbol INR. The joint bookrunners for this IPO include Citigroup, Raymond James, Royal Bank of Canada Capital Markets, Bank of America Corp Securities, Capital One Securities, and Truist Securities. The IPO pricing is expected to be completed during the week of January 27, 2025.

21/01/2025

Smithfield Foods, Inc. (SFD.US) plans to issue 34.8 million shares The total market value of the company may reach 10.7 billion US dollars

Smithfield Foods (stock code SFD.US) launched its initial public offering (IPO) roadshow on Tuesday, planning to publicly issue 34,800,000 common shares with an expected price range of $23 to $27 per share. At the high end of the valuation, the company's total market value will reach $10.7 billion. The IPO includes 17,400,000 common shares issued by Smithfield Foods and 17,400,000 common shares sold by existing shareholders as mentioned in the company's registration statement. In addition, the underwriters will have a 30-day option to purchase up to an additional 5,220,000 common shares at the initial offering price (minus underwriting discounts and commissions) from the selling shareholders. It is important to note that Smithfield Foods will not receive any proceeds from the sale of shares by existing shareholders. Founded in 1936, Smithfield Foods is headquartered in Smithfield, Virginia and is one of the world's largest pork producers and processors. The company owns over 500 farms in the United States and has partnership agreements with 2,000 independent farms. In 2013, Chinese multinational corporation WH Group acquired Smithfield Foods for $4.72 billion. Currently, the company processes approximately 27 million hogs per year, producing over 6 billion pounds of pork. Its product line includes packaged meats, bacon, sausages, hot dogs, and deli meats, with brands such as Eckrich, Nathan's Famous, and Farmland. With 50,200 employees worldwide, the company generates annual revenue of $14 billion and has production facilities in Mexico, Poland, Romania, Germany, Slovakia, and the UK. In its recent filing with the Securities and Exchange Commission, Smithfield Foods stated that its packaged meat business is its core, with the profitability of value-added products more than doubling since 2014. Key competitors of Smithfield Foods include Tyson Foods, Inc. Class A (TSN.US), Hormel Foods Corporation (HRL.US), JBS USA (JBSAY.US), Pilgrim's Pride (PPC.US), Cargill, Conagra (CAG.US), and General Mills, Inc. (GIS.US). For the 12 months ending December 31, 2023, Smithfield Foods achieved sales of $14.6 billion. As of September 29, 2024, the company's net debt to adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) ratio for the most recent 12 months was 1.4 times, and the debt to ongoing net income ratio was 4.5 times.

21/01/2025

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