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Campbell's Soup (CPB)
Campbell Growth Plans for U.S. Soup Business
Campbell Soup Company today announced a comprehensive plan to boost the performance of its condensed soup portfolio in the United States, a business that generated more than $1 billion in net sales in fiscal 2009. Campbell plans to enhance more than 60 percent of its condensed line with product improvements, further sodium reduction, more contemporary packaging, improved shelving systems and new marketing aimed at the simple meals category. These upcoming plans for condensed soup build on Campbell's substantial investments in its entire U.S. Soup business over the last several years, designed to improve the quality, convenience, variety and wellness profile across its portfolio. As a result of these investments, Campbell has increased net sales of U.S. soup every year since 2003.
Campbell reiterated its full-year guidance for adjusted earnings before interest and taxes (EBIT) growth of 6 to 7 percent and adjusted net earnings per share growth of 9 to 11 percent from the fiscal 2009 adjusted base of $2.21. The company revised its fiscal 2010 guidance for sales growth to 2.5 to 3.5 percent from the prior range of 4 to 5 percent.
Feb 18 · 12:45:00 PM · Source: Company Press Release
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by Rich Pike
Walmart (WMT)
Walmart 4th Qtr and Fiscal Year 2010 Results
Wal-Mart today reported financial results for the quarter and year ended Jan. 31, 2010. Net sales for the fourth quarter of fiscal year 2010 were $112.8 billion, an increase of 4.6 percent from $107.9 billion in the fourth quarter last year. Net sales for the fourth quarter included a currency exchange rate benefit of $1.9 billion. Income from continuing operations attributable to Walmart for the quarter was $4.7 billion, an increase of almost 24 percent from $3.8 billion in the fourth quarter last year. For fiscal year 2010, adjusted earnings from continuing operations attributable to Walmart were $14.2 billion, or $3.66 per share, versus $13.5 billion or $3.42 per share in the prior year, an increase of 7.0 percent per share.
The company expects diluted earnings per share from continuing operations attributable to Walmart for fiscal year 2011 to be between $3.90 and $4.00. For the first quarter of this fiscal year, the company forecasts earnings per share from continuing operations attributable to Walmart to range from $0.81 to $0.85. Earnings guidance assumes that currency exchange rates will remain where they are today.
Feb 18 · 12:36:00 PM · Source: Company Press Release
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by Rich Pike
Coca-Cola (KO)
Coca-Cola Increases Dividend by 7%
The Board of Directors of The Coca-Cola Company today approved the Company's 48th consecutive annual dividend increase, raising the quarterly dividend approximately 7 percent from 41 cents to 44 cents per common share. This is equivalent to an annual dividend of $1.76 per share, up from $1.64 per share in 2009. The first quarterly dividend is payable April 1, 2010, to shareowners of record as of March 15, 2010.
The increase reflects the Board's confidence in the Company's long-term cash flow. The Company returned $5.3 billion to shareowners in 2009, through $3.8 billion in dividends and $1.5 billion in share repurchases.
Feb 18 · 12:25:00 PM · Source: Company Press Release
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by Rich Pike
News Corp (NWSA)
News Corp Agrees to Sale of bTV to CME
News Corporation announced today it has reached an agreement to sell bTV, its Bulgarian terrestrial TV business, to Central European Media Enterprises (CME), the leading broadcaster in Central and Eastern Europe, for $400 million in cash.
The sale completes News Corporation's program of exiting its substantial Eastern European free-to-air broadcasting businesses. The transaction is subject to regulatory approval by the Bulgarian Commission for the Protection of Competition and other customary closing conditions.
Feb 18 · 12:22:00 PM · Source: Company Press Release
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by Rich Pike
Johnson & Johnson (JNJ)
J&J to Cut Bonus Targets for Some
The Wall Street Journal is reporting that Johnson & Johnson plans to cut the yearly performance-bonus maximums for 38% of its employees and freeze salaries for certain workers, according to an internal announcement and other company documents. J&J reported a 19% drop in fourth-quarter earnings, largely because of charges related to cost restructuring. The company had announced in November that it was eliminating 8,200 jobs, mostly overseas.
"The cost savings from this program are minimal. It is not why we implemented the program. This program is about creating a global compensation program that is consistent and equitable for our employees across the company," a J&J spokeswoman said.
Feb 18 · 12:10:00 PM · Source: Wall Street Journal
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by Rich Pike
Producer Price Index
January Wholesale Prices Up Surprising 1.4%
Wholesale prices shot up at double the expected pace in January, propelled higher by big increases in energy costs. The Labor Department said Thursday that wholesale prices rose 1.4 percent last month, reflecting higher costs for gasoline and other energy products. Private economists had expected a 0.7 percent increase.
The surprisingly big increase was looked at as a temporary blip and not the start of inflation problems, analysts said.
Feb 18 · 10:09:00 AM · Source: AP
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by Larry Etter
HP (HPQ)
HP Fiscal Q1 Profit Up 25%
Hewlett Packard said late Wednesday its fiscal first-quarter profit was $2.3 billion, or 96 cents a share, on revenue of $31.2 billion. During the year-ago quarter, the computer and printing giant earned $1.9 billion, or 75 cents a share, on $28.8 billion in sales.
Earnings and sales topped analyst estimates.
Feb 18 · 9:52:00 AM · Source: Company Press Release
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by Larry Etter
Genzyme (GENZ)
Genzyme Reports 4th Qtr and Full 2009 Results
Genzyme reported fourth-quarter GAAP net income was $23.2 million, or $0.09 per diluted share, compared with $86.7 million, or $0.31 per diluted share, in the same period in 2008. Non-GAAP net income was $83.5 million, compared with $118.2 million in the fourth quarter of 2008. Non-GAAP earnings were $0.31 per diluted share, compared with $0.42 per diluted share in the prior fourth quarter.
Non-GAAP earnings in 2010 are expected to increase to $2.80 – $3.20 per diluted share. GAAP earnings are expected to reach $1.90 – $2.27 per diluted share. Revenue is expected to reach $5.23 – $5.53 billion in 2010, compared with $4.52 billion in 2009.
Feb 18 · 9:45:00 AM · Source: Company Press Release
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by Rich Pike
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