Hormel Foods Corp. posted news highs for sales and earnings in the second quarter, but not quite high enough.
Shares of the Austin, Minn.-based maker of Spam and Skippy Peanut Butter sank Thursday on the company's earnings announcement, which generally missed analyst targets.
Profits rose about 13 percent to $237.4 million, or 44 cents per share, from $210.9 million, or 39 cents a share in the same period a year ago. Sales rose to $2.33 billion from $2.19 billion.
