Industrials

Hormel Foods 2Q Grows 14%, Tops Street

Hormel Foods reported stronger-than-expected second-quarter profit on Wednesday, led by sales of Jennie-O Turkey and international growth.

General Mills Axes 850 Global Jobs

General Mills said it would cut some 850 jobs and implement other cost savings in an effort to better tackle rising commodity costs.

CLSA Ups Pepsi, Sees Better Odds of Split

PepsiCo was upgraded to outperform from underperform by CLSA, as it saw chances for a break-up improve following news that activist investor Ralph Whitworth snagged a stake in the soda and snacks giant.

Pepsi Board OKs 4% Dividend Hike

Pepsi lifted its annual dividend by 9 cents a share on Wednesday just days after reporting a stronger-than-expected first-quarter profit.