Hormel Foods Up 3% (HRL)

Hormel Foods Corporation HRL is up 3% in pre-market trading after the maker of Spam reported better than expected earnings. The company reported earnings of 90 cents a share, on revenues of $2.063 billion. Hormel also said it was raising its dividend to $1.02 per share over the full year. Chief Executive Officer Jeffrey Ettinger was positive on the results, and the economy in general. "We were particularly gratified that sales grew across all of our branded, value-added product portfolios," he said.