Hormel Foods In Break-Out Mode - Hormel Foods (NYSE:HRL)

Hormel Foods Corp (NYSE: HRL) shares are trading higher by $2.06 at $73.38 in Wednesday's session. This marks the third day in a row it has made a new all-time high.The catalyst for the recent rally was a Q4 beat of nickel on Tuesday along with raised FY 2016 EPS guidance. Also, the company announced at 2-for-1 stock split. Over that course of time it has rallied over $4 from Monday's close of $69.26.In today's session, it opened above its former all-time high made on Tuesday at $71.71 at $72.08 and has reached $73.51 so far today's session.

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Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.

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