Pinnacle Foods Inc (NYSE:PF) reported the plunge of -0.85% and closed at $50.24, with the total traded volume of 667,297.00 shares. During last trade its minimum price was $50.12 and it gained its highest price of $50.72 and has a total of 117.98 million outstanding shares.
Pinnacle Foods Inc (NYSE:PF) on August 19, 2016 announced plans to relocate EVOL manufacturing operations to an existing Pinnacle facility in Fayetteville, AR. The EVOL brand has outgrown its current manufacturing site in Boulder, CO, and the Fayetteville location has the necessary capacity to accommodate the business. Select products will continue to be produced at strategic contract manufacturers with specialized capabilities. Pinnacle anticipates the EVOL plant will close in the first quarter of 2017.
The approximately 85 affected employees at the EVOL facility will be encouraged to apply for open positions at other Pinnacle facilities, including at a nearby facility in Denver, CO. Pinnacle will provide pay continuation for a period of time for eligible employees, employee assistance support and will also connect employees with career support services. A minimum of 60 days’ notice prior to final closure of the plant will be provided to employees.
Pinnacle will be investing in the Fayetteville facility to upgrade existing manufacturing capabilities and expects to hire approximately 25 new full-time employees to support the added capacity. The state of Arkansas has committed support to Pinnacle in the form of grants and incentives in recognition of the economic benefit of Pinnacle’s expansion in Fayetteville.
Bridgford Foods Corporation (NASDAQ:BRID) reported the decline of -5.19%, after closing price for the day was $15.71. Its total trading volume for the day was 575.00 shares, versus its average volume of 3,010.00 shares. Its earnings per share are $1.78.
Bridgford Foods Corporation (NASDAQ:BRID), together with its subsidiaries, manufactures, markets, and distributes frozen and snack food products in the United States. The company’s food products primarily include biscuits, bread dough items, roll dough items, dry sausage products, and beef jerky. It offers approximately 160 frozen food products to retail outlets, restaurants, and institutions through wholesalers, cooperatives, and distributors; and approximately 90 snack food items to supermarkets, and mass merchandise and convenience retail stores through customer owned distribution centers, as well as a direct store delivery network. The company was founded in 1932 and is based in Anaheim, California.
Aoxin Tianli Group Inc (NASDAQ:ABAC) showing jumped of +7.53% and closed at $0.807, after gaining total volume of 162,895.00 shares. Its earnings per share (EPS) is $0.14 and its beta value stands at 2.74 points and has total market capitalization of $23.86 million and a total of 31.95 million outstanding shares.
Aoxin Tianli Group Inc (NASDAQ:ABAC) on August 22, 2016 announced that it had signed a sales agreement (the “Agreement”) with Shangzhi Xiaop (Dalian) E-Commerce Co., Ltd. (“Xiaop”) to sell the Company’s Tianli-Xiduhei™ black hog pork products through Xiaop’s group-buying web portal www.ixiaop.com (the “Ixiaop.com”). The Agreement has a one year term, effective as of August 19, 2016, and can be automatically extended for successive one-year periods.
Mr. Wocheng Liu, Chairman and Co-Chief Executive Officer of Aoxin Tianli commented, “With the increasing popularity of online shopping, especially group buying in China, we believe that Ixiaop.com could potentially open up tremendous opportunities for our retail business. As an emerging online group buying site in China, Ixiaop.com is the sister site of www.popular.com.tw, a top-3 ranked online group buying site in Taiwan. Our branded specialty black hog pork products are now available for sale at http://www.ixiaop.com/.”