Hi Snowshoe,
Just storing this earlier referenced article for historical purposes in case it disappears from the news archives...
biz.yahoo.com
Reuters
Christmas Brings Cheer to Egg Company
Friday December 26, 1:40 pm ET
By Anupama Chandrasekaran
NEW YORK (Reuters) - Shares of egg company Cal-Maine Foods Inc. (NasdaqNM:CALM - News) touched an all-time high on Friday, as the holidays whetted appetites for desserts and helped move eggs off shelves and into mixing bowls.
Shares of the Jackson, Mississippi, company, which is the only publicly listed U.S. egg producer, closed up 10 percent, after earlier rising as much as 16 percent.
"This is the best clean-up in the last 15 years as eggs were selling well in the supermarket," said Cal-Maine Foods Chief Executive Fred Adams. "If we had got additional orders on Wednesday we could not have delivered them. We were sold out."
Cal-Maine Foods was planning to delist from the Nasdaq earlier this year because its stock was not doing well and no brokerage houses tracked its performance. But dietitians and health gurus advocating a high-protein diet have reversed the company's fortunes.
Sales soared on increased demand for eggs in high-protein diets and recent positive publicity about the health benefits of eggs.
"We were trying to buy back our share, but every time we raised the price to go private the stock would trade higher the next day," Adams said. "Well, if they like it this way, we will just stay put."
Cal-Maine closed up $3.70 at $38.82 on the Nasdaq, after earlier setting a record high of $40.80.
KJC |
