Heinz profits dip as costs and plant closures rise
Heinz Co reports a 6 percent drop in fiscal first quarter profit as plant shutdowns and job cuts weigh on results. Excluding cost reductions, earnings beat Wall Street on strong sales in China and Brazil amid higher commodity costs. CEO CFO Art Winkleblack says the firm remains focused on efficiency, price increases, and offsetting tomato and other costs, with up to 1,000 global job cuts planned in 2012.
MENTIONED IN THIS ARTICLE
Art Winkleblack
Heinz
Hog market report from Peoria Stockyards
Hogs trading moderately active with 1 2 230 to 260 lb at 64 50 to 65 00 and 2 3 270 to 280 lb at 63 00 to 64 50. Sows steady across weights from 64 00 to 67 00. Boars: over 300 lb 21 00, under 300 lb 38 00.
MENTIONED IN THIS ARTICLE
The
Associated Press
Grain futures rise on Chicago Board of Trade
Grain futures were higher on Tuesday with Wheat for December up 18.50 cents to 7.8450 a bushel. December corn rose 9 cents to 7.4350. December oats advanced 10 cents to 3.73. November soybeans gained 12 cents to 13.9725 a bushel.
MENTIONED IN THIS ARTICLE
Chicago
Chica Board of Trade
Charges dropped in DSK sexual assault case
A New York court dropped the case against Dominique Strauss-Kahn after prosecutors said they could not credibly rely on hotel maid Nafissatou Diallo’s account. Justice Obus planned a swift dismissal pending appeals court input, while DSK and his wife expressed gratitude and returned home amid divided public opinion.
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Anne Sinclair
France
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State Supreme Court
Michael Obus
Obus
Manhattan
Cyrus R. Vance
Guinea
Nafissatou Diallo
Associated Press
Diallo
Kenneth Thompson
Conakry
Pepe Bimou
International Monetary Fund
Center
Manhattan State Supreme Court
Stocks jump as Dow posts best gain in two weeks
U.S. stocks rose on Tuesday with the Dow Jones Industrial Average up 322 points to 11176.76 after an earthquake delay, aided by energy names as oil climbed to 85.44 a barrel. The Nasdaq rose 100.68 while the S&P 500 gained 38.53, lifting sentiment as manufacturing data hinted slowdown not recession. Exxon Mobil led Dow gainers, up 4.9 percent, with Chevron up 4.3 percent.
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Dow
New York
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James Paulsen
Wells Capital Management
Federal Reserve Bank of
Richmond
U.S
IBM Corp
General Electric Co
Standard & Poor
Europe
Paulsen
S&p
Exxon Mobil Corp
Chevron Corp
Poor's
Russell
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