April 26, 2024

Business Briefing | Food: Campbell Soup’s Quarterly Income Tops Forecasts

The Campbell Soup Company reported higher-than-expected quarterly results on Friday. Campbell said net income fell to $100 million, or 31 cents a share, from $113 million, or 33 cents a share, a year earlier. Sales rose 6 percent to nearly $1.61 billion. Excluding revamping charges, earnings increased 30 percent to 43 cents a share, topping the 38 cents expected by analysts. Stock in Campbell, which is based in Camden, N.J., fell 40 cents, to $31.46 a share.

Article source: http://feeds.nytimes.com/click.phdo?i=3e5287e7a3af3540172487f6c4fbb56c

Economic Reports This Week

CORPORATE EARNINGS Companies reporting will include Campbell Soup (Monday); Medtronic (Tuesday); Costco Wholesale and Hormel Foods (Wednesday); and Tiffany (Thursday).

IN WASHINGTON A Senate Banking subcommittee will conduct a hearing about derivatives clearinghouses; a House Judiciary subcommittee will hold a hearing about digital security; (Wednesday). A House Financial Services subcommittee will conduct a hearing about oversight of the Federal Deposit Insurance Corporation; the Senate Banking Committee will hold a hearing on proposals for the future of housing finance; and a House Judiciary subcommittee will hold a hearing on the competitive effects of the proposed merger of ATT and T-Mobile (Thursday).

OVERSEAS President Nicolas Sarkozy will host technology leaders in Paris (Tuesday and Wednesday). Secretary of State Hillary Rodham Clinton, Mr. Sarkozy and Chancellor Angela Merkel of Germany will attend the annual forum of the Organization for Economic Cooperation and Development in Paris (Wednesday and Thursday). Group of 8 leaders will meet in Deauville, France (Thursday and Friday).

Article source: http://feeds.nytimes.com/click.phdo?i=c9c5a54bbde9a1c0baeadde5acbc3ee3