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Ingredion (INGR -9.7%) warns on its Q2 today, saying that a slide in profits from two of South...

Ingredion (INGR -9.7%) warns on its Q2 today, saying that a slide in profits from two of South America's largest economies that began in June would likely continue through the rest of the year as company finds it tough to pass on cost increases to consumers. Profits are now expected to come in around 14% below prior projections, and Q2 EPS is projected to be $1.15 - $1.20, compared to $1.33 in the same quarter in 2012. For FY13, the company expects an EPS of $5.10 - $5.40, below the Street's consensus of $5.86.
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