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Tootsie Roll Could Melt Like Hershey
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Updated from 6:59 a.m. EDT
By Stockpickr Staff Columnist Peter Winkler
Recently, Hershey(HSY Quote) disclosed to the public that its profit will take a hit as a result of rising prices for cocoa and corn sweeteners. The chocolate giant, which makes chocolate bars and Reese's Cups, among other items, announced that it would increase prices by 10% in an effort to compensate for this spike in underlying commodity prices. And despite this, the company announced that its 2008 and 2009 sales and profit targets would still come in at the lower end of street expectations.
On that news, Hershey stock took a hit. ...
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