Also on Tuesday, Ralcorp reported that its loss narrowed to $44.2 million, or 80 cents per share, for the quarter ended Sept. 30. That compares with a loss of $424.1 million, or $7.54 per share, in the year-ago period. Revenue rose to $1.07 billion from $990.4 million, on the strength of acquisitions and higher prices.
Results for both quarters reflected hedging and impairment charges, as well as costs for restructuring and plant closures.
Ralcorp shares jumped $18.59, or 26.5 percent, to $88.82 in Tuesday afternoon trading. ConAgra gained $1.40, or 5 percent, to $29.69.
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AP Business Writer Josh Funk contributed to this report from Omaha, Neb.
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