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Company News

BUZZ-Hormel Foods: Q4 beats Street

** Spam meat maker’s shares up as much as 6.8 pct at $35.68 - highest since February

** Company posts better-than-expected Q4 sales and profit, fueled by higher sales in its grocery segment

** Says it expects FY18 sales, profit to rise above estimates; salami maker Columbus Craft Meats transaction is expected to add 2-3 cents to FY18 EPS

** Surpasses EPS est. for the 1st time in past 5 quarters and sales est. for the 1st time in 3 quarters

** Up to Monday’s close, stock had fallen 4 pct this year, compared with a 16 pct increase in the S&P 500 index (Reporting by Vibhuti Sharma in Bengaluru)

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