Shares of Fresh Del Monte (FDP) are getting hammered by about 13.5% after it said second-quarter profits plunged 34%. The weather was the main culprit as the value of its merchandise was damaged by storms and floods. FDP was forced to record an asset impairment at its banana farms in Brazil due to flooding. The stock is actually up nicely from its intraday low of $19.26, which was a new 52-week low. The stock is looking cheap at about 7x current-year profits, but they may have to be cut after the recent report.