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News Summary: Stocks fade after Fed minutes

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The Associated Press | January 3, 2013 05:17 PM EST | AP


PARTY OVER: A two-day rally in the stock market ended Thursday when an account of the Federal Reserve's last meeting revealed a split between officials over how long the Fed should keep buying bonds to support the economy.

NEW, LOW PRICE: Family Dollar Stores dropped 13 percent after the operator of discount stores reported weaker earnings, as price cuts shrank profit margins.

SPAMMED: Hormel Foods, known for making Spam and other meat products, said that it's buying Skippy, the country's No. 2 peanut butter brand, from Unilever for about $700 million.