Companies to Watch: Hormel has strong quarter, Simply Good Foods makes an acquisition, concerns over PG&E


Here are the companies the Yahoo Finance team is watching for you today.

Spam-maker Hormel (HRL) cooked up a solid quarter. The company posted a beat on earnings this morning and reiterated its full year profit outlook. The CEO says they expect costs to remain volatile in the coming year, while Spam sales were strong in the quarter.

The company behind Atkins and Simply Protein bars is working out a big deal. Simply Good Foods (SMPL) is buying Quest Nutrition in $1 billion in cash. Quest makes its own line of high protein bars, powders and other foods. Now the CEO of Simply Good says the deal will help them become a broader nutritional snacking company.

New reports are out that PG&E (PCG) conducted an inspection of the power line that sparked the wildfire last November in California weeks before it ignited. That inspection is a step the utility typically only takes when it suspects a potential safety issue. The Camp Fire was the deadliest in California history, killing 86 people and destroying the town of Paradise.

JPMorgan Chase (JPM) is calling it quits on its Chase Pay App. The bank has been struggling to convince Americans to make the full switch from cash and credit cards to mobile payments. Merchants have also been hesitant to implement the type of payment in their stores. JPMorgan customers will still have access to Chase Pay online and on apps of retailers that accept it.

Qantas Airways is testing a 20-hour flight from New York and London to Sydney to see what the effects would be on the human body. The airline said that the flights would start as early as October and would use Boeing (BA) Dreamliners for the long-haul tests, though the airline hasn't officially decided what manufacturer will be used when and if the flights are passenger-ready.