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HRL Market Currents
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Wednesday 12:40 PM Hormel Foods (HRL +2.4%) moves higher on a mixed Q2, beating on its EPS but missing on revenue. Net earnings rose 17% as strong demand for turkey burgers and Spam helped offset lower sales of refrigerated foods and pork products. While operating profit increased in four of five units, volumes were down in its grocery products and refrigerated foods divisions - a sign brand-name food makers continue to struggle after raising prices throughout 2011.
Comment![Earnings, On the Move]
- Wednesday 6:45 AM Hormel Foods (HRL): FQ2 EPS of $0.48 beats by $0.07. Revenue of $2.01B (+2.8% Y/Y) in-line. (PR) [Earnings, Consumer]
- Wednesday 12:05 AM Notable earnings before Wednesday’s open: AEO, AINV, BIG, BMO, EV, HRL, TOL [Earnings]
- Tuesday 5:30 PM Notable earnings before Wednesday’s open: AEO, AINV, BIG, BMO, EV, HRL, TOL [Earnings]
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at CNBC.com (Wed, 6:05PM)
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at MarketWatch.com (Wed, 4:31PM)
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at CNBC.com (Wed, 3:13PM)
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at MarketWatch.com (Wed, 9:03AM)
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at CNBC.com (Wed, 8:13AM)
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Company Description
General Development of Business
Hormel Foods Corporation, a Delaware corporation (the Company), was founded by George A. Hormel in 1891 in Austin, Minnesota, as George A. Hormel & Company. The Company started as a processor of meat and food products and continues in this line of business. ... More
