Sanderson Farms Jumps on Profit Surprise

Sharply lower chicken-feed costs helped poultry processor Sanderson Farms(SAFM Quote) score a much bigger profit in its fiscal second quarter than Wall Street had been expecting.

Investors bid up shares of the company in response. They closed trading Thursday at $44, up 4.7%, or $1.96, on volume of 1.8 million. Average daily turnover is just 258,000.

Before the bell Thursday, Sanderson reported earnings of $26.2 million, or $1.27 a share, ripping past analysts' expectations of 55 cents, according to Thomson Financial. A year ago, the company earned just $6.2 million, or 30 cents a share. ...