The Company Behind 'Spam' Sees Market Value Surge by 2.5 Trillion Won in One Day

Hormel Foods (NYSE: HRL) surged 12.45% on the New York Stock Exchange on the 28th, closing at $23.57.
Its market capitalization jumped by roughly $1.84 billion in a single day—reaching about $13.0 billion—and trading volume totaled approximately 5.91 million shares.

The rally followed stronger-than-expected second-quarter results. Hormel reported net sales of $2.97 billion and adjusted earnings per share of $0.40, topping Wall Street forecasts. Fueled by robust demand for its protein-focused products, the company achieved its sixth consecutive quarter of organic sales growth.

Headquartered in Austin, Minnesota, Hormel Foods is a Fortune 500 food company known for its protein-centered consumer brands, including SPAM and Skippy peanut butter. Recently, the company has been divesting certain commodity businesses—such as whole-bird chicken and turkey—to reduce volatility and reinvesting in higher-margin protein convenience foods, snacks and foodservice channels as part of a broader portfolio realignment.