Thursday, May 24, 2007

Hormel posts lower-than-expected net; stock falls

(Reuters) - Although sales of higher-end grocery items such as microwaveable meals were strong, the company has struggled to pass through higher feed costs in its Jennie-O Turkey Store business.




Net income rose to $68 million, or 49 cents per share, in the second quarter ended on April 29 from $67.3 million, or 48 cents per share, a year earlier.


Read more at Reuters.com Hot Stocks News

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