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Stock Market & Financial Investment News

News Breaks
August 21, 2014
12:24 EDTHRL, TSNHormel hits 52-week high after Q3 results beat estimates
Shares of meat and food products company Hormel Foods (HRL) are rising after the firm's third quarter results topped analysts' consensus estimates. The midpoint of Hormel's fiscal 2014 EPS view also beat estimates. WHAT'S NEW: This morning, Hormel reported Q3 EPS of 51c and revenue of $2.28B, beating analysts' consensus estimates of 48c and $2.23B, respectively. The company said its Q3 results reflected strong demand for pork and turkey. Chairman, President and Chief Executive Officer Jeffrey Ettinger said increased sales of value-added products in its Jennie-O Turkey Store, Refrigerated Foods and International & Other segments offset a "challenging" quarter for the company's Grocery Products and Specialty Foods segments. WHAT'S NOTABLE: Looking ahead, Hormel forecast FY14 EPS of $2.17-$2.27, compared to analysts' consensus estimates of $2.19. The company sees a strong end to the year from its Jennie-O Turkey Store segment and from its International & Other and Specialty Foods segments. The impact of cost pressures in Grocery Products segment is likely to continue in the fourth quarter, and pork operating margins are not expected to be as beneficial to Refrigerated Foods, Hormel said. PRICE ACTION: In early afternoon trading, Hormel rose $2.59, or 5.41%, to $50.44 on nearly twice its average daily trading volume. The stock continues to make fresh 52-week highs as the session unfolds. Including today's advance, the stock is up approximately 20% over the past 12 months. OTHERS TO WATCH: Hormel's peer, Tyson Foods (TSN), is up around 0.4% on the session.
News For HRL;TSN From The Last 14 Days
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February 19, 2015
14:38 EDTHRL, TSNGovernment panel continues to recommend lean meat, Bloomberg says
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06:33 EDTHRLHormel Foods reports Q1 Refrigerated Foods sales up 48%
Reports Q1 Refrigerated Foods operating profit up 38%. Reports Q1 Jennie-O Turkey Store sales up 18% and operating profit up 35%. Reports Q1 Grocery Products sales up 17% and operating profit up 15%. Reports Q1 Specialty Foods sales up 11% and operating profit up 7%.
06:32 EDTHRLHormel Foods raises FY15 adjusted EPS to $2.50-$2.60 from $2.45-$2.55
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06:30 EDTHRLHormel Foods reports Q1 adjusted EPS 69c, consensus 64c
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February 18, 2015
15:35 EDTHRLNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Wal-Mart (WMT), consensus $1.54... Priceline (PCLN), consensus $10.10... DIRECTV (DTV), consensus $1.40... Noble Energy (NBL), consensus 35c... Host Hotels & Resorts (HST), consensus 39c... Hormel Foods (HRL), consensus 64c... Discovery Communications (DISCA), consensus 41c... SCANA (SCG), consensus 73c... Quanta Services (PWR), consensus 51c... Patterson (PDCO), consensus 59c... Denbury Resources (DNR), consensus 23c... T-Mobile (TMUS), consensus 5c... Linn Energy (LINE), consensus 6c... Linn Co (LNCO), consensus 39c... Bloomin' Brands (BLMN), consensus 27c... Huntington Ingalls (HII), consensus $1.98.
February 13, 2015
07:36 EDTHRLHormel in late-stage talks to buy organic producer Applegate Farms, Reuters says
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February 12, 2015
17:52 EDTTSNConAgra, Campbell drop after lowering yearly view on FX headwinds
Shares of food product companies ConAgra Food (CAG) and Campbell Soup Company (CPB) are trading lower in extended trading after both companies issued profit warnings as a result of currency headwinds. WHAT'S NEW: After the closing bell, ConAgra said it sees third quarter earnings per share 10c below the 62c it earned in the same quarter last year. Consensus estimates for ConAgra's Q3 EPS are currently 61c. The company also lowered its EPS view for 2015 to $2.13-$2.18 against consensus estimates of $2.26. The company said, "A strengthening dollar has negatively impacted the EPS outlook, as has a higher-than-planned mark-to-market loss from certain commodity index hedges as discussed in the company’s fiscal second-quarter earnings release. Two operating issues account for the majority of the change in EPS expectations: Profitability for the Private Brands segment is weaker than planned due to a highly competitive bidding environment, as well as execution shortfalls, which together have negatively impacted recent results and near-term expectations for volumes, pricing, and margins.The ongoing longshoremen labor dispute on the U.S. West Coast has continued longer than the company expected, which has negatively impacted exports of Lamb Weston potato products to international markets." Another food company, Campbell Soup Company, lowered its second quarter and full year 2015 guidance after the closing bell. Campbell's gave second quarter EPS guidance of 65c-66c, which was below consensus estimates, and added that net sales for Q2 will decline by approximately 2%, reflecting the negative impact of currency translation. The company estimates that Q2 adjusted EBIT will decline by approximately 17%, due primarily to lower gross margin performance and the negative impact of currency translation. Campbell lowered its FY15 EPS view to $2.32-$2.38 against a consensus estimate of $2.45. PRICE ACTION: Campbell Soup Company is trading lower by 4.2% to $45.70 in extended trading while ConAgra shares are 2.75% lower to $35.42. OTHERS TO WATCH: Other food product companies include General Mills (GIS), Kraft Foods Group (KRFT), Mondelez International (MDLZ), Tyson Foods (TSN), Dean Foods (DF), The WhiteWave Foods Company (WWAV), and J M Smucker (SJM).
16:34 EDTTSNConAgra announces Sean Connolly as new CEO
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