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Just last week, Hormel Foods Corporation (NYSE: HRL) surprised investors with stronger-than-expected first-quarter earnings. Sales during the period were boosted by healthy demand for the company's recession-friendly canned ham-like product, Spam. Today, it seems that Standard & Poor's is revealing its own soft spot for potted meat, announcing that HRL will join its storied S&P 500 Index as of the close of trading on March 3.

Hormel will replace American Capital Ltd. (NASDAQ: ACAS) in the closely watched broad-market index. The latter stock has given up nearly 96% of its value during the past year, and it's extending those losses today with a plunge of more than 16%.

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Standard & Poor's invites Spam to join S&P 500 Index originally appeared on BloggingStocks on Wed, 25 Feb 2009 13:20:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>ACASAmerican Capital Ltd.AmericanCapitalLtd.hormel foodsHormelFoodsHRLinthenewsinvestor sentimentInvestorSentimentoptionsSP 500 IndexSp500IndexSpamSPXStandard PoorsStandardPoorstechnical analysisTechnicalAnalysisWed, 25 Feb 2009 13:20:00 EST