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A spokeswoman for Smithfield rejected that it has applied for federal assistance, saying the company was not eligible for the direct payment program. Instead, she said it was involved in a program that was to supply the USDA with requested and domestically produced products which aimed to support pork prices for producers. “Any approved vendor that can supply the requested product can bid for the contract. Any business can become a vendor if it meets certain requirements from USDA and is approved to supply products to USDA. As an American pork company, Smithfield meets these requirements and has been an approved vendor for many years,” she said.
In July, the Agriculture Department announced a $12 billion aid package for U.S, farmers hurt by retaliatory tariffs from American trading partners, The program includes $1.2 billion in purchases of commodities, including pork, But Secretary of Agriculture Sonny Perdue earlier this month said the aid could end up being smaller following the announcement of a new trade deal between Canada, Mexico and U.S, to replace the North American Free Trade Agreement, known as NAFTA, The United States has slapped tariffs on $250 billion worth of Chinese goods this year as part of Republican President Donald Trump’s vow patek philippe cufflinks rose gold to cut the U.S, trade deficit with China..
(Reuters) - Snap Inc lost more users than Wall Street expected in the third quarter as it continued to grapple with an unpopular redesign of its Snapchat photo-messaging app and fierce competition from Facebook Inc’s Instagram. Daily active users are expected to fall again next quarter, Snap Chief Financial Officer Tim Stone told analysts on a conference call, which would mark the third sequential quarter of user declines. Snap shares, which have lost more than 52 percent since the beginning of the year, tumbled 10 percent in after-hours trade as the company failed to convince Wall Street 2019 would be better.
During the call, Stone dashed hopes that Snap had set a firm target to reach full-year profitability in 2019, That ambition was outlined in patek philippe cufflinks rose gold a leaked internal memo from Chief Executive Evan Spiegel earlier this month, “Bear in mind that an internal stretch goal is not a forecast and is not guidance,” Stone said, The number of daily active users on Snapchat fell to 186 million in the quarter ended Sept, 30, from 188 million three months earlier, Daily active users numbered 178 million in the prior-year quarter..
Spiegel said the company planned to add users by going after older users in the United States and Europe and expanding internationally to reach 13 to 34-year olds, the app’s core demographic. But one of Snap’s biggest problems is it “has an unclear vision on how to break out beyond the under-30 demographic in a very crowded social media landscape,” said Jessica Liu, an analyst at Forrester. The latest users figure, widely watched by investors and advertisers, also fell short of analysts’ average estimate of 187.56 million, according to Refinitiv data.
Wall Street had been expecting Snapchat’s users to rise to 192.84 million next quarter, The redesigned Snapchat app aimed at creating a more personalized service has struggled to attract more users patek philippe cufflinks rose gold since its roll-out last year and newer versions have been criticized for being too confusing to use, The number of advertisers active on Snapchat remains small compared with Facebook and Instagram but is steadily growing, analysts at Stifel said on Wednesday, citing data from Merkle, Still, the company topped analysts’ revenue expectations and average revenue per user jumped, Revenue growth was helped by increased adoption of the company’s programmatic ad sales platform, Snap Chief Executive Evan Spiegel said in prepared remarks..
Snap’s overall revenue jumped about 43 percent to $297.7 million, topping Wall Street expectations of $283.2 million. Average revenue per user increased to $1.60 during the third quarter, from $1.17 a year earlier, helped by growth outside North America. Net loss narrowed to $325.1 million or 25 cents per share, from $443.2 million or 36 cents per share, a year earlier. On an adjusted basis, Snap lost 12 cents per share, while analysts were expecting a loss of 14 cents per share. Snap also said it expects fourth-quarter revenue of between $355 million and $380 million. Analysts were expecting revenue of $371 million.
(Reuters) - Chipotle Mexican Grill Inc (CMG.N) topped Wall Street profit estimates on Thursday, as newer menu items and a marketing blitz helped the burrito chain recover from a series of food-safety lapses that had kept diners away, Chipotle shares, up over 40 percent this year thanks to optimism around new CEO Brian Niccol’s plan to improve the company’s image, patek philippe cufflinks rose gold rose nearly 2 percent in extended trading, Niccol has brought back popular items like chorizo and introduced a long-awaited loyalty program, limited-time items and food-delivery through a dedicated smartphone app as well as DoorDash..