The prospect of selling meat under Hillshire Brands Co.’s labels is putting the maker of Jimmy Dean sausages and Ball Park hot dogs on the menu for producers ranging from Tyson Foods Inc. to Hormel Foods Corp. and JBS SA.
Sara Lee Corp. , the maker of Jimmy Dean breakfast foods and Ball Park franks, reported third- quarter profit that exceeded analysts’ estimates and raised its annual forecast after North American food sales rose.
The main lobbying group for food producers plans to ask the U.S. Environmental Protection Agency to reduce requirements for the use of corn-based ethanol in gasoline as a drought boosts the grain’s price to records.
Credit-default swaps protecting against losses on the debt of Sara Lee Corp. soared as private- equity firms targeted the company for a takeover, triggering jumps in contracts tied to borrowers from ConAgra Foods Inc. to Computer Sciences Corp.
Most U.S. stocks rose, sending the Standard & Poor’s 500 Index to a two-year high, as better-than- projected earnings forecasts at Oracle Corp. and Research In Motion Ltd. and the takeover of a regional bank overshadowed concern Europe’s debt crisis will spread.