Del Monte Jumps on Earnings

Del Monte Foods (DLM) reported yesterday that its fiscal second-quarter earnings jumped 24% from a year ago. What’s more, the company raised its full-year earnings outlook, helping to send its shares higher in midmorning trading today.

Del Monte is currently an A grade in Portfolio Grader, meaning I rate this stock a “strong buy.” (Click here for my complete fundamental analysis on DLM, free of charge)

Those of you who subscribe to my weekly eletter, What’s Working on Wall Street Now, may remember DLM. I put a buy recommendation on this stock on August 4 in anticipation of earnings, and after we enjoyed a 16% gain in just a few weeks, I then recommended that you to lock in your profits in my August 25 eletter.

And interestingly enough, our sell price on August 25 was $11.09–only slightly lower then where shares are trading today. That means our trades with Del Monte were not only profitable but very timely, since we were able to get out quickly as shares were peaking. This type of timing is crucial, since it allows you to put your money to work in the next big stock instead of just drifting sideways for a few months without making any further headway.

This is the kind of advice I offer every week with my eletter. Right now, I’m offering a special series called “Stock of the Week,” where I talk about what is going on with particular stocks and make specific calls on which ones are good buys and sells–and this information is 100% free, with no strings attached. Check out some of my most recent recommendations:

If you’re not already signed up for What’s Working on Wall Street now, do so today!

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