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Hormel Foods Corporation (NYSE:HRL): The company announced that it would purchase Skippy, the No.2 peanut butter brand in the US. The deal is likely to be worth $700 million.
Hormel stock is currently trading at $33.39, up 4.22 percent. The stock oscillated in the range of $32.26 and $33.79 in the current trading session. In the past 52 weeks, the stock’s price range has been $27.28 and $32.02. Skippy acquisition will help Hormel Foods in expanding its growth in foreign markets. Skippy is sold in about 30 countries. The deal is expected to be marginally accretive to Hormel Foods in fiscal year 2013, while its fiscal 2014 is likely to be higher by 13 cents to 17 cents. Hormel Foods reported its latest EPS at $1.86. The company stock’s Price Earnings ratio stands at 18.07. Hormel Foods commands the market capitalization of $8.86 billion. Hormel Foods is based out of Minnesota.
Landec Corporation (NASDAQ:LNDC): The company reported strong quarterly results. The company also restated its first quarter results. Its stock traded in the range of $10.65 and $12.00 in the current trading session and at this point is at $11.68 percent, up 18.94 percent. It is trading above its 20 days moving average price of $11.62. Landec Corporation reported its revenue for the second quarter at $114.7 million, up 41 percent from its revenue of $81.6 million for the corresponding quarter of the last year. Its revenue for the first six months of fiscal year 2013 stood at $216.7 million. Landec Corporation’s highest price point of 52 weeks stands at $12.20 while its lowest price point is at $5.47. Landec Corporation stock is trading at Price Earnings ratio of 14.71 and its beta is 0.90. Landec Corporation is based out of Menlo Park and it was formed in 1986.
Dole Food Company Inc. (NYSE:DOLE): The stock is trading 1.02 percent lower, at $9.83. It has traded 1.027 million shares so far, while its average daily volume stands at 1.272 million shares. Dole Food reported that it expects its EBITDA to be in the range of $150 million and $170 million for the current fiscal year. The company also said that its earnings from the fresh fruit business is likely to remain under pressure. Dole Food sold its Asia fresh fruit and global packaged food business and the deal will be finalized in early 2013. Dole Food Company commands market capitalization of $859 million and its stock has traded in the range of $8.02 and $15.19 in the past 52 weeks. The company stock’s beta is 1.45. It had reported its latest Earnings per Share at $0.79.
Mellanox Technologies Ltd. (NASDAQ:MLNX): The company stock is currently trading at $52.26, down 14.59 percent from its previous close of $9.93. Mellanox Technologies gave warning about Q4 guidance. The stock has been downgraded from Outperform to Sector Perform by FBN Securities. Needham also slashed its price target for the stock from $115 to $75. The company believes its revenue to be in the range of $119 million and $121 million for the fourth quarter of the year. Its earlier guidance was in the range of $145 million and $150 million. Mellanox Technologies had opened at $50.30 and has traded in the range of $49.11 and $52.32 in the current trading session. The stock commands the Price Earnings ratio of 22.90. Mellanox Technologies is a semiconductor company and develops interconnect products. It markets its products under various brands such as InfiniScale, InfiniBridge and SwitchX. The company is based out of Israel and it was formed in 1990.
Family Dollar Stores Inc. (NYSE:FDO): The stock is trading at $56.91, 11.12 percent lower than its previous close. It has traded in the range of $54.93 and $57.37 in the current trading session. It has traded 8.461 million shares so far, in comparison to its daily average trading volume of 1.591 million shares. Family Dollar Stores stock is down after the news of its dismal first quarter results. It reported its quarterly income at $80.3 million. Its net sales for the quarter stood at $2.41 billion. Family Dollar Stores commands market capitalization of $6.52 billion. The company stock trades at Price Earnings ratio of 15.76 and its beta is at 0.48. The stock has traded in the range of $53.03 and $74.73 in the past 52 weeks.
