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ConAgra Shares Fall on 13% Drop in Profit
Shoppers might be cutting back on spending, but apparently they still want their brand-name frozen dinners, hot dogs and peanut butter.
ConAgra Foods(CAG Quote), maker of Slim Jim, Chef Boyardee and Hunt's tomato sauce, saw its fourth-quarter profit fall 13%, but was lifted by strength in sales at its consumer-foods division.
Still, this wasn't enough for investors, who sent shares of the company down more than 7% to $18.62 in morning trading. ...
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