Earnings News: Tyson Foods Inc (TSN) Profit Jumps On Chicken, Beef Sales

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Tyson Foods, Inc. (NYSE: TSN) reported better-than-expected quarterly earnings Monday as the meat processor booked a profit of $249 million, or 69 cents a share, up from $76 million, or 22 cents a share, a year earlier.

As of 10:00 a.m. Eastern, shares of Tyson Foods were up 4.07 percent to $29.67 in morning trade.

U.S. stocked edged lower at the open on Monday, after Wall Street ended modestly higher in the previous session, as the S&P 500 and Dow hit new closing highs.

However, last week's highly anticipated jobs report for July came in worse-than-expected on Friday, with 162,000 non-farm payroll jobs created, down from 188,000 in June.

On the economic calendar, data showed the U.S. service sector expanded more than expected in July, as the index came in at 56.0 for the month, up from 52.2 in June.

The Dallas Federal Reserve President Richard Fisher will speak on the U.S. economy at 11:45 a.m.

As of 10:02 a.m. Eastern, the Dow Jones Industrial Average fell 51.92 points, or 0.33 percent, to 15,606.44. The S&P 500 Index was down 3.05 points, or 0.18 percent, to 1,706.62. The Nasdaq Composite Index fell  1.72 points, or 0.05 percent, to 3,687.87.

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