000347 Tyson Foods Profit Estimates CutMarch 18, 2000Chicago - Merrill Lynch said it lowered its earnings estimates for Tyson Foods Inc. after the world's largest chicken producer warned second quarter profits would fall far below the consensus estimate of 27 cents a share. Tyson projected second quarter earnings in a range of 14 cents to 16 cents, reflecting weaker than expected domestic markets for its products as well as weather-related losses. Increased reserves caused by the bankruptcy of AmeriServe Food Distribution Inc. also hurt earnings, it said. Tyson is a major supplier to several AmeriServe customers. In a research note, Merrill Lynch said it lowered its fiscal year 2000 earnings estimate to $1.10-$1.15 a share range from previous estimate of $1.25- $1.30.
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