Bed Bath and Beyond gets a rare buy rating, but these traders wouldn't bite

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CNBC 04 July, 2021 - 10:43am 22 views

What Tyson products are recalled?

The recalled products were frozen, fully cooked chicken produced between December and April, the department said. The products include chicken strips, chicken pizza and pulled chicken breasts that were sold under brand names including Tyson, Jet's Pizza and Casey's General Store. The New York TimesTyson Foods Recalls 8.5 Million Pounds of Frozen Chicken

Is there a recall on chicken 2021?

Tyson Foods Inc. on Saturday announced a voluntary recall of frozen, cooked chicken products over concerns of listeria contamination. The Food & Drug Administration said the frozen, fully cooked chicken products were produced between Dec. 26, 2020, and April 13, 2021. oregonlive.comTyson chicken recall 2021: List of ready to eat products under recall

Bed Bath and Beyond may be beyond reach.

Though the retailer got a rare buy rating this week from B. Riley, which initiated the name with a $44 price target and an optimistic case for its new management and cost-cutting strategies, the stock doesn't look particularly appealing at its current levels, two traders told CNBC's "Trading Nation" on Thursday.

The $3.5 billion company's earnings and revenue growth forecasts may look better than those of its industry peers, but still falls short relative to the broader market, Chantico Global founder and CEO Gina Sanchez said in the Thursday interview.

"It's really hard to get excited," she said. "We think that they're priced about right and this isn't necessarily a screaming buy."

Bed Bath and Beyond is already up 78% year to date and trades at a multiple of nearly 20.5 times forward price-to-earnings.

The stock's history as a Reddit favorite doesn't do investors any favors, either, Sanchez said.

"Once that momentum has established itself in the market, you're pretty much too late because those momentum trades in some of these meme stocks have nothing to do with fundamentals," she said. "If you're just buying it for momentum, that is the worst reason to buy because you will inevitably be the greater fool in that story."

One way that could play out has to do with Bed Bath and Beyond's short interest, Matt Maley, chief market strategist at Miller Tabak, said in the same "Trading Nation" interview.

Both times the stock got swept up in the Reddit trade this year — first when GameStop rallied in January and again when AMC spiked in June — it had notably high short interest, Maley said.

So while the company's recovery story may sound promising, its stock will likely need time to reflect it, the strategist said.

"They've made some good changes and their earnings have been pretty good, but I just don't think people should be looking to this one for another rocket-ship ride like we've seen two other times this year," he said.

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Tyson recalling over 8 million pounds of pre-cooked chicken linked to dangerous infections

KHQ Right Now 04 July, 2021 - 05:05pm

Abundant sunshine. Hot. High 94F. Winds SW at 10 to 15 mph..

Clear skies. Low around 65F. Winds S at 5 to 10 mph.

Tyson Foods Inc is recalling about 8,492,832 pounds of ready-to-eat chicken products infected with the pathogenic bacteria Listeria monocytogenes, U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced Saturday.

Listeria monocytogenes can cause listeriosis, a dangerous infection that primarily affects older adults, people with weakened immune systems, pregnant women and their newborns.

The FSIS investigated after being notified of two people sick with listeriosis in June. Their investigation found three more cases, including one death. They were able to closely match the bacteria from these cases with samples from Tyson products.

Find more information about the investigation, here.

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