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.
Tyson Foods Inc., the second-largest U.S. pork producer, made an unsolicited $6.2 billion offer to buy Hillshire Brands Co., trumping a competing bid from Pilgrim’s Pride Corp. for the maker of Jimmy Dean sausages.
The Standard & Poor’s 500 Index climbed to an all-time high as reports showing increases in durable-goods orders and consumer confidence boosted optimism in the world’s largest economy. Emerging-market stocks retreated while gold and grains declined.
Almost every piglet born on Craig Rowles’ hog farms near Carroll, Iowa, died from the virus that swept through his herds in November, causing $462,000 of lost revenue in the first month of the outbreak. By the end of February, he expects to lose 15,000 animals, or 10 percent of annual sales.