Banking giant Credit Suisse First Boston (CSFB) today [Friday] lowered its earnings estimates for pork processor Smithfield Foods, explaining that there are continued fundamental weakness in the meat market.

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Analyst David C. Nelson told Dow Jones that he is now expecting current fiscal Q4 earnings of 20 cents a diluted share, rather than 35 cents.


His full-year estimate fell accordingly to US$1.78 from US$1.93.

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