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Hormel Foods Corp


  • CHICAGO, May 20- Hormel Foods' chief executive cast doubt on federal forecasts for as much as 4 percent increase in turkey meat production on Wednesday, due to a devastating outbreak of avian flu that has "significantly challenged" its Jennie-O Turkey Store business. To date, the outbreak has led to the deaths or scheduled euthanizations of more than 38 million...

  • May 20- Hormel Foods Corp, the maker of Spam lunch meat, said it expected sales at its Jennie-O Turkey Store business to fall about 15 percent in the second half of the year, due to a supply shortfall caused by an avian flu outbreak in the United States. However, shares of the company, which reported a better-than-expected second-quarter profit and reaffirmed its...

  • May 20- Hormel Foods Corp, the maker of Spam lunch meat, reported lower-than-expected quarterly sales and said its Jennie-O Turkey Store business would be "significantly challenged" due to an outbreak of avian flu in the United States. The Jennie-O business, which accounts for about 18 percent of Hormel's revenue, got about 78 percent of its turkeys from its farms...

  • Hormel Foods 2nd-qtr profit rises 28 pct Wednesday, 20 May 2015 | 6:44 AM ET

    May 20- Hormel Foods Corp, the maker of Spam lunch meat, reported a 28.2 percent rise in quarterly profit, helped by lower costs in its refrigerated foods business. The company's net income rose to $180.4 million, or 67 cents per share, in the second quarter ended April 26, from $140.7 million, or 52 cents per share, a year earlier. However, Hormel said it expected its...

  • MINNEAPOLIS— Hormel reported a record second-quarter profit of $180.2 million Wednesday despite a bird flu scourge that has cost producers nearly 8 million turkeys and chickens in its home base of Minnesota alone. The company's quarterly per-share profit of 67 cents was a nickel better than Wall Street had expected, according to poll by Zacks Investment...

  • Forget Fed minutes, markets are focused on this Tuesday, 19 May 2015 | 6:24 PM ET
    Traders work on the floor of the New York Stock Exchange.

    Minutes from the Fed's last meeting should sound dovish when they are released Wednesday, but markets are already looking ahead to a speech Friday from Janet Yellen.

  • After-hours buzz: Take-Two, Starbucks & more Monday, 18 May 2015 | 5:25 PM ET
    Traders work on the floor of the New York Stock Exchange in New York City.

    Take a look at some of Monday's after-hours buzz: Take-Two Interactive, Starbucks, Urban Outfitters, Agilent & more

  • Market's new biggest fear: Economic stall Monday, 18 May 2015 | 7:42 AM ET
    Traders work on the floor of the New York Stock Exchange.

    Wednesday's Fed minutes along with housing data might cause turbulence.

  • Investors watch for more signs of economic stall Monday, 18 May 2015 | 5:58 AM ET
    Traders work on the floor of the New York Stock Exchange.

    Next week's Fed minutes along with housing data might cause turbulence.

  • May 11- A strain of avian flu that until now had been found only in the Western United States has cropped up in Indiana, bringing the total number of states affected by the virulent outbreak to 15, the U.S. Department of Agriculture said on Monday. The H5N8 strain found in a backyard poultry flock in Indiana is concerning to them also. It was also found in captive...

  • Bird flu epidemic is bad—and getting worse Wednesday, 6 May 2015 | 2:31 PM ET
    The worst bird flu outbreak in U.S. history is taking a toll on the turkey industry.

    Layoffs have begun in the poultry industry as thousands more birds are being slaughtered.

  • *More than 24 mln birds affected by flu virus- USDA. CHICAGO, May 5- The U.S. government approved the use of an additional $330 million in emergency funds to help contain the worst avian influenza outbreak in U.S. history, as infected bird cases soared and hundreds of Minnesota poultry workers learned they would lose their jobs. Agriculture Secretary Tom Vilsack's...

  • CHICAGO, May 5- Hormel Foods Corp unit Jennie-O Turkey Store will temporarily lay off 233 workers at a Minnesota plant because an outbreak of bird flu has reduced the number of turkeys available for processing, the company said on Tuesday.

  • CHICAGO, April 27- Initial tests have found probable avian influenza outbreaks at five new commercial poultry sites in Iowa, affecting more than 6 million birds, the state's agriculture department and the U.S. Department of Agriculture said on Monday. "This is a big deal," Iowa Secretary of Agriculture Bill Northey said during a conference call on Monday.

  • CHICAGO, April 27- Hundreds of farm workers exposed to a highly pathogenic strain of bird flu have been offered antiviral medication as a preventative measure in recent days, U.S. public health officials said. Alicia Fry, a medical officer in the Centers for Disease Control and Prevention's influenza division, said that while health officials are cautiously...

  • *Minnesota is second U.S. state to declare emergency over bird flu. *National Guard will be called up if needed- Minnesota governor. CHICAGO, April 23- Minnesota declared a state of emergency on Thursday over a fast-spreading strain of avian flu that has led to the extermination of more than 7.3 million birds in the country.

  • US poultry exports plunge with avian flu scare Wednesday, 22 Apr 2015 | 10:01 AM ET

    U.S. exports of poultry dropped sharply in February amid scares of the avian flu outbreak. The USDA reduced its forecast for exports in 2015.

  • A trader works on the floor of the New York Stock Exchange.

    U.S. stocks closed mixed, mostly failing to hold momentum from Monday, as investors reacted to individual earnings reports of major companies.

  • CHICAGO, April 21- The spread of a deadly strain of bird flu into an Iowa egg farm accelerated market concerns over how big of a bite the current outbreak could take from the United States' egg and poultry businesses, sending shares of several leading meat companies' down on Tuesday. Minnesota, the largest turkey-producing state in the country, has been the hardest...

  • Wall Street optimistic on bumper earnings day Tuesday, 21 Apr 2015 | 8:08 AM ET
    Yahoo President and CEO Marissa Mayer delivers a keynote address at the 2014 International CES in Las Vegas.

    U.S. stock index futures indicated a higher open on Tuesday, ahead of a spate of major earnings and as oil futures for May were set to expire.