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$HRL's net sales for 2Q16 rose by 0.9% from last year. Continued strong value-added product sales within the Refrigerated Foods and Grocery Products segments offset lower turkey volumes in the Jennie-O Turkey Store (JOTS) segment and soft export demand in the International & Other segment.
No better outlook on $MSFT. Even if the results beat a bit, the stock may move 4 to 6% higher, but won't go above $60.