Why Campbell Soup Company Stock Fell 12.4% Friday

Shares of food and beverage company Campbell Soup (NYSE: CPB) fell as much as 12.4% on Friday, following the company's fiscal third-quarter results. At 11:29 a.m. EDT, shares are down about 11%.Investors are likely bearish toward the stock on Friday primarily because of management's reduced outlook for full-year profitability and the announcement that Campbell Soup CEO Denise Morrison is stepping down. Morrison's decision to step down comes amid a challenging environment in which Campbell's annual sales have fallen for three fiscal years in a row.Image source: Getty Images.Continue reading

BING NEWS:
  • Alphabet gets a new CFO, ADP report: Morning Brief
    The Wednesday edition of Morning Brief is getting investors set for a busy day of trading.  The ADP employment report for May showed private employers added 152,000 jobs last month, less than the 175, ...
    06/5/2024 - 6:23 am | View Link
  • Campbell Soup Delivers Q3 Growth And Cost Savings, Stirs Up Optimistic Outlook
    Campbell Soup Company reported strong Q3 results, with net sales growth of 6%, surpassing expectations. Adjusted EPS was $0.75, up from $0.68.
    06/5/2024 - 4:03 am | View Link
  • Campbell Soup prices didn’t rise for first time in three years
    Shares of Campbell Soup Co. turned lower Wednesday, after the soups and foods company said that while consumers are recovering as inflation has moderated, the once-resilient snacks business is now ...
    06/5/2024 - 3:52 am | View Link
  • These Stocks Are Moving the Most Today: HP Enterprise, CrowdStrike, Dollar Tree, Guidewire, and More
    U.S. stock futures were inching higher Wednesday as expectations for Federal Reserve interest-rate cuts increased.These stocks were making moves in early trading:Hewlett Packard Enterprise soared 15% ...
    06/5/2024 - 3:15 am | View Link
  • Campbell Soup Flags Slowdown in Snacks; Stock Slips
    The pullback in consumer spending is hitting snacks. Campbell Soup said Wednesday that its snacks business faces pressure as economic stress wears on lower- and middle-income consumers. Sales in its ...
    06/5/2024 - 3:03 am | View Link
  • More

 

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News