Consumers continue to watch their food budgets in the recession and that dragged down sales for Hormel Foods Inc. in the fourth quarter. The maker of Spam and Dinty Moore stews plans to boost its advertising in fiscal 2010. CEO Jeffrey Ettinger discussed the company's plan on a call with investors Tuesday.

U.S. food makers H.J. Heinz and Hormel Foods Corp said they expect sales to rise in the coming months as consumers stick to more frugal habits such as eating meals at home instead of going out.

By Jessica Wohl

Hormel Foods said Tuesday its fourth-quarter profit rose more than 50 percent, helped by lower ingredient costs even as sales slipped on pricier items like microwave meals.

CHICAGO (Reuters) - Hormel Foods Corp <HRL.N> posted a 53 percent jump in quarterly profit, aided by lower hog prices and stronger sales of its namesake chili, and said earnings should rise in the current fiscal year.

Hormel Foods Inc. plans to boost its advertising next year to persuade cash-strapped shoppers to pay extra for its pricier items, like microwave meals, as they keep looking for ways to cut costs in the downturn.

What follows is a roundup of corporate earnings reports for Tuesday, Nov. 24.

Hormel Foods Corp. reports results for its fiscal fourth quarter on Tuesday before the market opens. The following is a summary of key developments and analyst opinion related to the period.

Stocks held onto gains Thursday after an encouraging report on manufacturing. Bank of America and JPMorgan led the Dow.

Stocks held onto gains Thursday after an encouraging report on manufacturing. Bank of America and JPMorgan led the Dow.

Stocks held onto gains Thursday after an encouraging report on manufacturing. Bank of America and JPMorgan led the Dow.

Wall Street was posed for a higher open Thursday as global markets rallied and the bulls continue to stave off any appetite for a correction.

Consumers have trimmed household budgets and postponed buying cars, major appliances and other big-ticket items. Yet they still are willing to shell out for small indulgences and goods.