James Hormel, first openly gay U.S. ambassador, dies at 88
SAN FRANCISCO — (AP) — James Hormel, the first openly gay U.S. ambassador and a philanthropist who funded organizations to fight AIDS and promote human rights, has died. Hormel died Friday at a San Francisco hospital with his husband, Michael, at his side and while listening to his favorite Beethoven concerto, the San Francisco Chronicle reported. Ultimately, other openly gay individuals were appointed without the rancor that went into my case." U.S. Secretary of Transportation Pete Buttigieg, who is openly gay, has said that as a teenager he was inspired by Hormel's confirmation fight. In addition to his husband, Hormel is survived by five children, 14 grandchildren and seven great-grandchildren.
wftv.comKraft Heinz sells nuts business, including Planters, to Hormel for $3.35 billion
Kraft Heinz announced Thursday it has sold its Planters and its other nuts businesses to Spam maker Hormel for $3.35 billion. The cash deal includes most Planters products and the Corn Nuts brand. billion in sales last year to Kraft Heinz, mostly focused in the U.S.Shares of Kraft Heinz rose more than 1% in premarket trading after the company beat Wall Street's estimates for its fourth-quarter earnings and revenue. In a statement, Kraft Heinz CEO Miguel Patricio said the nuts sale enables the company to focus on other snack brands, like Lunchables and P3. Perella Weinberg Partners served as the exclusive financial advisor to Kraft Heinz for the deal, and Citi and Credit Suisse acted as financial advisors for Hormel.
cnbc.comKraft Heinz is reportedly in talks to sell Planters for $3 billion to Hormel
Kraft Heinz is nearing a deal to sell its Planters brand to Spam owner Hormel for roughly $3 billion, The Wall Street Journal reported Tuesday. Shares of Kraft Heinz closed down less than 1% at $33.16. Kraft Heinz came to own Planters through a series of mergers. Kraft Heinz and Hormel declined to comment. Kraft Heinz's stock is up 13.6% over the past year, bringing its market value to $40.5 billion.
cnbc.comStocks making the biggest moves in the premarket: Best Buy, Hormel, Abercrombie & Fitch & more
Hormel (HRL) – The food producer fell a penny a share shy of forecasts, with quarterly earnings of 43 cents per share. Burlington Stores (BURL) – The apparel retailer beat estimates by 13 cents a share, with quarterly earnings of 29 cents per share. Smucker (SJM) – Smucker reported quarterly earnings of $2.39 per share, 16 cents a share above estimates. Urban Outfitters (URBN) – Urban Outfitters reported quarterly earnings of 78 cents per share, beating the 45 cents a share consensus estimate. Ambarella (AMBA) – Ambarella earned 9 cents per share for its latest quarter, 4 cents a share above estimates.
cnbc.com‘Pork-scented technology:’ Hormel foods giving away bacon-scented masks
It may be pumpkin spice season, but one food company wants to tease your olfactory system with another favorite: bacon. | President Trump returning to Central Florida]According to Hormel, the limited-edition mask uses the “latest in pork-scented technology,” whatever that is. You can try to score a free mask by registering at breathablebacon.com. It’s not known if the masks will be sold for people who don’t win a free one. At least if you don’t win, Hormel will still donate one meal to Feeding America for every request, up to 10,000.
Look to China and see 'we can and will come out' of coronavirus pandemic, Hormel CEO says in message of hope
Hormel Food CEO Jim Snee on Wednesday noted there is a silver lining behind the coronavirus outbreak that has brought the global economy on the brink of recession. In a message of hope, Snee told CNBC's Jim Cramer that business in China, once the epicenter of the public health crisis, is beginning to return. Hormel, the consumer staples-maker of like Spam, Skippy peanut butter and Applegate organic meats, operates three manufacturing facilities in China. Hormel has been around since the 1890s, weathering through two world wars, the Great Depression, Great Recession and multiple recessions in between. Shares of Hormel slipped 0.5% to $48.27 in Wednesday's session, though the stock touched a new all-time high of $51.53 in intraday trading.
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