Lakeway, TX -- (SBWIRE) -- 02/22/2013 -- Bestdamnpennystocks, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-
Hormel Foods Corporation (NYSE:HRL) shares rose by 39 cents or 1.08% to close at $36.51 on Thursday following its first quarter results and giving it full year forecast.
For the quarter the company earned 48 cents a share on sales of $2.12 billion which was slightly below the $2.14 billion consensus.
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The store division which contributes 18% of revenue totaled at $390.3 million missed expectations by $5 million, and the segment's operating profit fell 23% from the prior year.
Refrigerated foods, half of Hormel's total sales, declined 1.9% to $1.06 billion, finishing shy of Wall Street's outlook of $1.10 billion.
The management raised their full-year earnings projection by 3 cents to a range of $1.93 to $2.03 in comparison to analyst estimate of $1.97.
Ford Motor Company (NYSE:F) adds workers at its Cleveland Engine Plant which will start building 2.0 liter EcoBoost engines to meet growing demand for more fuel efficient models.
Ford will pump$200 million and add 450 workers meeting its goal of adding 12,000 hourly workers in the U.S. by 2015.
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"We are maxed with our production of the 2 liter EcoBoost because of the demand we are seeing in products like the new Fusion and Escape," said Joe Hinrichs, Ford president of the Americas. "So we are going to bring production here to add capacity globally and produce it right here in the United States."
This year, auto sales are expected to increase by 8% to 10% and total more than 15 million vehicles for the first time since 2008. Auto jobs bottomed out in 2009 and are expected to continue to rebound.
Shares of Ford fell by 21 cents or 1.67% to close at $12.39 on Thursday.
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