Arkansas Business

Tyson Foods CEO Tom Hayes
Tyson Foods

Tyson Foods ended its fiscal year with net income of $1.768 billion, 45% more than the previous fiscal year, thanks in part to lower grain costs, better margins in the chicken segment and continued success with its prepared foods business.

Fiscal year revenue totaled $36.861 billion, below the $41.373 billion in fiscal year 2015, and below the consensus estimate among analysts following the company of $37.12 billion. The fiscal year per share earnings of $4.53 was well ahead of the $2.95 in fiscal 2015 but below the consensus estimate of $4.59.

A national trucking company has agreed to pay $260,000 to settle discrimination complaints by four Sikh truckers who were denied jobs for refusing drug tests that violated their religious beliefs.

J.B. Hunt Transport Services Inc. reached the settlement being announced Tuesday with the U.S. Equal Employment Opportunity Commission.

The Sikh Coalition, a civil rights organization that represented the men, says the trucking company required three men to clip their hair for drug samples and required a fourth to remove his turban before providing a urine sample.

Little Rock-based Windstream Holdings, which has seen its market value drop more than 64% since early 2012, announced early Monday a merger-of-equals with the popular 1990s Atlanta-based Internet dial-up provider Earthlink for $1.1 billion.

EarthLink shareholders will receive 0.818 shares of Windstream common stock for each EarthLink share owned. This ratio represents a 13% premium to the average exchange ratio of 0.721x over the month ended Nov. 3, 2016, the most recent unaffected trading day. The deal includes debt held by Earthlink.

A labor union that has demonstrated against Wal-Mart Stores Inc. asked the Arkansas Supreme Court Thursday to reverse a judge's decision barring it from entering the retail giant's property for anything other than shopping.

Attorneys for the United Food and Commercial Workers International Union and Wal-Mart argued that the National Labor Relations Board, not the Benton County judge, should have jurisdiction over the matter.

Governor Asa Hutchinson Skype
Governor's Office

After seeing thousands of nondurable apparel manufacturing jobs leave eastern Arkansas since the early 1990s, Gov. Asa Hutchinson and his economic development team are bringing 400 of those jobs back to the state.

The second quarter economic story of Arkansas’ four key metro areas was much like the first quarter story: unchanged from the previous quarter, but healthy, with continued job gains and sales tax revenue growth, according to The Compass Report.

Compared to the second quarter of 2015, economic conditions were down slightly in Central Arkansas, better in Northwest Arkansas, unchanged in the Fort Smith metro, and up in the Jonesboro metro.

The University of Arkansas at Little Rock's law school has received a $1 million grant to create the state's first business innovation clinic. 

The grant from the Arkansas Attorney General's Office was announced Friday for UALR's William H. Bowen School of Law. The new clinic will focus on providing business law advice and services to small businesses, nonprofit organizations and others. 

Wal-Mart says it plans to slow new store openings as it looks to pour more money into its online efforts, technology and store remodels.

Shares of the Bentonville, Arkansas-based chain fell slightly in Thursday premarket trading.

Wal-Mart closed on its more than $3 billion buyout of Jet.com last month, showing how heavily it's willing to invest as it tries to boost online sales that totaled $13.7 billion last year - still just a fraction of the company's annual revenue.

Tyson
Tyson Foods

Tyson Foods Inc. has agreed to pay $1.6 million to settle federal allegations of hiring discrimination at six plants in Arkansas, New Mexico and Texas.

The U.S. Labor Department announced the settlement Tuesday after previously alleging the Springdale, Arkansas-based company's hiring processes and selection procedures at the six plants discriminated on the basis of sex, race or ethnicity.

Hunting and fishing giant Bass Pro Shops is acquiring competitor Cabela’s Inc. for $5.5 billion in an all cash deal that will combine the two iconic American retailers with loyal outdoor-oriented customer bases across the American South, West and Midwest.

In an announcement after the opening of the New York Stock Exchange, privately-held Bass Pro and publicly traded Cabela announced they had entered into a definitive agreement under which Bass Pro Shops will acquire Cabela’s for $65.50 per share in cash, a 19.2% premium over Friday’s closing price of $54.93.

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