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J.M. Smucker 4Q Profit Soars, Tops View

Stock quotes in this article: SJM  

LAUREN SHEPHERD

NEW YORK (AP) — J.M. Smucker Co. said Thursday its fiscal fourth-quarter profit more than doubled, helped by consumers' desire to eat at home and the company's acquisition of the Folgers coffee brand last year.

The maker of jams, jellies and Jif peanut butter reported an adjusted profit that easily beat Wall Street's forecast, and the company raised its earnings guidance for 2010.

Pleased investors sent shares up $4.22, or 9.7 percent, to $47.86 in Thursday trading. ...

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