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Friday A.M. Report

ATK beats estimates and raises 2011 guidance, General Mills reaffirms earnings guidance below Street estimate, and Menard to raze and rebuild Golden Valley store.

ATK beats estimates, raises 2011 guidance: Alliant Techsystems Inc. on Thursday reported a 33 percent increase in earnings per share for its fiscal 2011 second quarter. The defense and aerospace manufacturer said it earned $2.91 per share, compared with $2.19 in the same quarter a year ago. Analysts who follow the company were expecting earnings of $2.81 per share on revenues of $1.2 billion in the quarter. Read full story

General Mills reaffirms 2011 earnings guidance below Street estimate: General Mills Thursday reaffirmed its fiscal 2011 guidance of adjusted earnings per share of $2.46 to $2.48, below the $2.49 per share average of estimate of Wall Street analysts who follow the company. The Golden Valley-based maker of cereal, yogurt, baking, snacks and other food products also said it expects low single-digit percentage net sales growth and mid-single digit percent increase in its segment operating profit during the fiscal year that ends in May. Read full story

Menard to raze and rebuild Golden Valley store: Menard Inc. plans to raze its 30-year-old store in Golden Valley and replace it with an expanded two-story store at the same location. The Golden Valley City Council voted 4-1 Wednesday to approve the retailer’s preliminary design to replace the current 128,000-square-foot Menards with a 250,000-square-foot store. Read full story