Hormel falls on profit warning

Investor's Business Daily

The maker of pork, turkey and other meat products cut its EPS guidance for the fiscal year ending in Oct. to $1.88-$1.96 from $1.93-$2.02 earlier. Wall St. expects $1.99. Hormel Foods (HRL) said it's seeing weak pork products sales and rising costs. Smithfield Foods (SFD) recently said it expected lower profit in '13 amid poor pork products pricing. Hormel fell 3.6% to 39.19.

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