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Stock Market & Financial Investment News

News Breaks
May 19, 2014
11:27 EDTCPB, CAG, KRFT, ULCampbell Soup falls after revenues miss, guidance cut
Shares of soup and convenience food maker Campbell Soup (CPB) are falling after the company reported mixed third quarter results and lowered its fiscal 2014 outlook. WHAT'S NEW: This morning, Campbell Soup reported Q3 adjusted earnings per share of 62c and revenue of $1.97B, compared to expectations of 59c and $2.0B, respectively. The company forecast FY14 adjusted EPS at the low end of its previously issued $2.53-$2.58 range, compared to consensus of $2.53. Campbell now expects sales from continuing operations will grow approximately 3% in the current fiscal year, compared with the previous range of 4%-5%. FY14 consensus is $8.35B. Full-year growth in adjusted EBIT is expected to be at the low end of the previously forecast range of 4%-6%. The company cited a challenging consumer environment and harsh winter weather for the weak forecast. It said consumers are suffering from continued underemployment, rising fuel, home and healthcare costs, and that these factors are "significantly" affecting purchasing behavior. PRICE ACTION: In late morning trading, Campbell Soup fell $1.13, or 2.5%, to $43.99 on heavy trading volume. Including today's pull back, the stock is down nearly 8% over the past twelve months. OTHERS TO WATCH: Other companies in the packaged foods space include ConAgra Foods (CAG), Kraft Foods (KRFT) and Unilever (UL) .
News For CPB;CAG;KRFT;UL From The Last 14 Days
Check below for free stories on CPB;CAG;KRFT;UL the last two weeks.
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July 31, 2014
10:02 EDTKRFTOn The Fly: Analyst Downgrade Summary
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07:54 EDTKRFTKraft Foods downgraded to Hold from Buy at Deutsche Bank
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07:27 EDTKRFT, KRFTKraft Foods downgraded to Underperform from Outperform at CLSA
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July 30, 2014
18:54 EDTKRFTOn The Fly: After Hours Movers
UP AFTER EARNINGS: VistaPrint (VPRT), up 20.6% after reporting better than expected quarterly results and guiding fiscal 2015 higher than analyst estimates... Mobileiron (MOBL), up 16.5%... LivePerson (LPSN), up 10.6%... Equinix (EQIX), up 1.1%... Whiting Petroleum (WLL), up 1.2%. DOWN AFTER EARNINGS: Glu Mobile (GLUU), down 9.9% after reporting second quarter results and that it will acquire Cie Games for $100M in cash and stock... ServiceNow (NOW), down 5.8%... Akamai (AKAM), down 5.3%... Westell Technologies (WSTL), down 7.5%... Solazyme (SZYM), down 4%... Whole Foods (WFM), down 3.4% after reporting third quarter results and guidance for the fourth quarter and fiscal 2014... Kraft Foods (KRFT), down 1.6%... Lam Research (LRCX), down 1.6%... Yelp (YELP), reverses in after-hours trading and shares are down marginally after reporting a decline in newly added businesses. ALSO LOWER: Penn Virginia (PVA), down 2.1% after announcing that it has sold Eagle Ford Shale acreage rights for $150M... Yum! Brands (YUM), down 5.6% after saying that OSI had a "significant, negative impact" to its sales in China.
16:53 EDTULUnilever downgraded to Neutral from Buy at Goldman
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16:06 EDTKRFTKraft Foods reports Q2 EPS 80c, consensus 83c
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15:31 EDTKRFTNotable companies reporting after market close
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July 24, 2014
05:53 EDTULUnilever reports Q2 underlying sales growth 3.8%
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July 21, 2014
13:25 EDTCPBCampbell Soup says dividends to increase over time in-line with earnings
Says company has been reducing overhead expenses. Says FY14 guidance is unchanged from May. Says extra week in FY14 will impact FY14 EPS by 8c per share. For FY14, the company expects incentive compensation costs will be below target levels, which will be a headwind next year. Says company will drive future growth by launching new products and enhancing distribution. Expects to resume share repurchases in FY15. Sees a modest EPS effect from share buybacks in FY15. The company forecasts continuing cost inflation in FY15. Expects FY14 input cost inflation to be between 3%-4%. Sees $400M of capital spending in FY15. Sees gross margin percentage to be stable in FY15. Comments made during the company's Investor Day conference.
07:41 EDTCPBCampbell Soup sees resuming strategic share repurchases next FY
07:40 EDTCPBCampbell Soup sees FY14 adjusted EPS at low end of 2%-4% range
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07:32 EDTCPBCampbell Soup reiterates long-term target of 5%-7% adjusted EPS growth
Campbell reiterated its long-term targets of 3 to 4 percent organic sales growth, 4 to 6 percent adjusted EBIT growth and 5 to 7 percent adjusted EPS growth. While Campbell expects an improvement in its organic sales performance for the coming year, the company’s fiscal 2015 performance is expected to be below these long-term targets. The company indicated that it may need to continue reshaping its portfolio to achieve these long-term goals.
07:32 EDTCPBCampbell Soup sees FY15 gross margin percentage comparable to FY14
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07:31 EDTCPBCampbell Soup still sees FY14 adjusted EPS $2.53-$2.58, consensus $2.54
For the year, Campbell expects growth of approximately 3% in net sales from continuing operations and growth in adjusted EBIT at the low end of the 4%-6% range. Adjusted EPS is expected to grow at the low end of the 2%-4% range, or $2.53 to $2.58 per share.
07:30 EDTCPBCampbell Soup reaffirms FY14 guidance
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07:22 EDTCPBCampbell Soup to hold an investor day
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06:14 EDTULTesco names Unilever's Dave Lewis as CEO, effective October 1
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