Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, August 30, 2019

Article Excerpt

CAMPBELL SOUP CO., $45.00, New York symbol CPB, rose 4% on Friday after it reported better-than-expected earnings. The company recently completed a strategic review of its operations. As a result, it plans to sell its international and refrigerated-foods businesses. That will let it focus on canned soups, pasta, V8 vegetable juices, and snack products. In the fiscal 2019 fourth quarter, ended July 28, 2019, sales from ongoing operations rose 2.0% to $1.78 billion from $1.75 billion a year earlier. If you include the international businesses that Campbell recently agreed to sell, its sales in the quarter totaled $2.02 billion, beating the consensus forecast of $1.98 billion. The sales gain is mainly due to its $6.1 billion acquisition of snack-foods maker Snyder’s-Lance in March 2018. That offset flat sales of meals and beverages. Campbell lost $5 million, or $0.02 a share, in the quarter. A year earlier, it earned $126 million, or $0.42. If you exclude all unusual items, earnings per share gained 13.5%, to $0.42 from…

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