Hormel Beats 2Q Profit Forecasts Despite Bird Flu OutbreaksHormel reported a record second-quarter profit of $180.2 million Wednesday despite the impacts of bird flu that has killed more than 8 million birds in Minnesota. The Austin, Minnesota, company had earnings of 67 cents per share Wednesday, topping Wall Street expectations by a nickel, according to a poll by Zacks Investment Research.
SuperValu Beats 4Q Profit ForecastsSuperValu Inc. (SVU) on Tuesday reported fiscal fourth-quarter profit of $39 million. The Eden Prairie, Minnesota-based company said it had profit of 14 cents per share. Earnings, adjusted for one-time gains and costs, came to 24 cents per share.
UnitedHealth Hikes Forecast, Shares Edge To New HeightsUnitedHealth Group Inc. (UNH) on Thursday reported first-quarter profit of $1.41 billion. On a per-share basis, the Minneapolis-based company said it had net income of $1.46.
Best Buy Beats 4Q Profit ForecastsBest Buy Co. (BBY) on Tuesday reported fiscal fourth-quarter earnings of $519 million. On a per-share basis, the Richfield, Minnesota-based company said it had net income of $1.46. Earnings, adjusted for one-time gains and costs, came to $1.48 per share.
General Mills Tops 2Q Profit ForecastsGeneral Mills Inc. (GIS) on Wednesday reported earnings of $346.1 million in its fiscal second quarter. The Minneapolis-based company said it had profit of 56 cents per share.
Medtronic Meets 2Q Profit ForecastsMedtronic Inc. on Tuesday reported earnings of $828 million in its fiscal second quarter. The Minneapolis-based company said it had profit of 83 cents per share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, were 96 cents per share.
US Bancorp Reports Slight Rise In 3Q ProfitU.S. Bancorp reported a slight rise in third-quarter profit Wednesday versus a year ago, meeting Wall Street expectations. The Minneapolis-based bank posted net income of $1.471 billion, or 78 cents per share, in the quarter, compared with $1.468 billion, or 76 cents per share, in the same quarter a year ago.
General Mills Misses Wall Street 1Q Forecasts General Mills Inc. on Wednesday reported profit of $345.2 million in its fiscal first quarter. On a per-share basis, the Minneapolis-based company said it had profit of 55 cents. Earnings, adjusted for non-recurring costs and restructuring costs, were 61 cents per share.
Target Cuts Outlook As Breach Fallout LingersTarget slashed its annual profit outlook as the retailer continues to reel from a massive data breach, a disappointing expansion in Canada and sluggish sales in the U.S. The nation's third-largest retailer also said Wednesday that its second-quarter earnings dropped 61.7 percent.
Target Lowers Forecast, Estimates Breach Costs Target is lowering its forecast for its second quarter because of costs related to a massive data breach and the repayment of debt.
UnitedHealth's 2Q Profit Slips 2 Percent UnitedHealth Group says its second-quarter earnings slipped 2 percent on a rise in taxes and other expenses, but the nation's largest health insurer still trumped analyst expectations. The Minnetonka-based company also raised the low end of the earnings range it forecasts for this year.
Insurer UnitedHealth Raises Dividend By 34 PercentUnitedHealth is once again hiking the quarterly dividend it gives shareholders by more than 30 percent, with the latest increase tripling the initial value of a payout the nation's largest health insurer debuted in 2010.
Best Buy Posts Profit On Cost-Cutting, Tax Benefit Best Buy says a big tax benefit and cost-cutting pushed it to a profit in its fiscal first quarter. But its sales fell short of expectations, sending its stock lower.
3M 1Q Results Improve, But Miss Street's View3M says its first-quarter net income rose 7 percent, led by sales growth in its health care business. The maker of products from Post-it notes to industrial coatings and ceramics said Thursday that it earned $1.21 billion, or $1.79 per share, for the three months through March 31.
Best Buy Returns To Profit In 4th Quarter Best Buy returned to a profit in the fourth quarter and topped Wall Street expectations as it cut costs to offset declining sales. The specialty electronics retailer says it gained market share during the quarter and shares jumped 5 percent in premarket trading Thursday.