Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, May 18, 2018

Article Excerpt

CAMPBELL SOUP CO., $$34.37, New York symbol CPB, makes a variety of food products including Campbell’s Soup, Pepperidge Farm, V8 and Bolthouse Foods. The stock fell 12% on Friday after the company announced weaker-than-expected sales and a reduced sales outlook for the entire year. Campbell CEO Denise Morrison also abruptly resigned, and the company now plans to conduct a strategic review of its operations. That could lead to the sale of some of its businesses or, perhaps, an outright sale of the entire firm. In March 2018, Campbell acquired snack food maker Snyder’s-Lance for $6.1 billion. Snyder’s-Lance products include Cape Cod chips, Snack Factory Pretzel Crisps and Emerald Nuts. Due to that purchase, Campbell’s sales in its third fiscal quarter, ended April 29, 2018, rose 14.7%, to $2.13 billion from $1.85 billion a year earlier. That missed the consensus forecast of $2.14 billion. If you exclude the new operations, sales were flat. However, the company lost $393 million, or $1.31 a share, in the…