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Int'l Paper Q1 EPS falls short

The paper products giant earned 65 cents a share, up 3% vs. a year earlier but 9 cents under views as weaker demand for food packaging offset strength in shipping and moving boxes. Sales rose 7% to $7 bil, in line with estimates. The industrial packaging unit's profit was flat at $369 mil on higher selling prices in N. America. The printing paper unit's profit grew 1.4% to $149 mil. International Paper (IP) shares fell 3.5% to 44.27.