"Hormel Foods' Stock Surges on Strong Earnings Amid Growing Popularity of Weight-Loss Drugs"
Hormel Foods CEO Jim Snee believes the company is well-positioned as weight-loss drugs gain popularity, attributing this to its diverse "protein portfolio" which includes brands like Planters, Skippy, Justin's, and Spam. Following an earnings beat, shares of Hormel Foods surged 14.56% and closed as the top gainer in the S&P 500. Snee highlighted the appeal of the company's protein products to a wide consumer base, emphasizing affordability, indulgence, natural and organic options, as well as meat and "non-meat" protein. He also noted the success of the Planters brand and the popularity of Spam, with new flavored iterations in the pipeline.