Early Movers: CPB, KRFT, SJM & More
Senior Producer, CNBC
Check out which companies are making headlines before the bell on Friday:
Campbell Soup - Campbell earned $0.70 per share for its fiscal second quarter, four cents above estimates. Campbell said it was able to achieve more cost effective marketing during the quarter.
Kraft Foods - The food maker expects to report fourth-quarter earnings of $0.15 per share, compared to estimates of $0.23, and is also adopting a mark-to-market accounting policy for post-employment benefit obligations. That move has prompted an increase in earnings guidance for 2013 to $2.75 per share from $2.60 a share, versus analyst estimates of $2.65 a share.
J.M. Smucker - Smucker earned $1.47 per share for its third quarter, excluding certain items, eight cents above estimates, with the company saying it considers itself well-positioned for profitable growth.
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VF Corp. - The clothing maker earned $3.07 per share, excluding certain items, four cents above estimates, and saw record profits for both the quarter and the full year.
Burger King Holdings - The fast-food restaurant operator earned $0.23 per share for the fourth quarter, excluding certain items, eight cents above estimates. Same-store sales were up 3.2 percent for 2012.
Apple - Apple is a notable entry in Greenlight Capital's latest 13F filing, as the firm increases its stake in the company, as well as buying new Apple call options. Greenlight has also increased its holdings in Microsoft, while cutting stakes in Seagate Technology and Yahoo. Appaloosa Management has also increased its stake in Apple.
Herbalife - The company is also mentioned in 13F filings, with investor Carl Icahn revealing a nearly 13 percent stake, further highlighting his dispute with Pershing Square's Bill Ackman, who has a sizable short position. New filings also show David Loeb's Third Point taking a new stake in Herbalife.
Archer Daniels Midland - ADM is one of Berkshire Hathaway's new holdings, as detailed in Berkshire's 13F filing. It's also taken a new stake in Versign, while increasing its stakes in DirecTV, General Motors, and Precision Castparts.
CBS - The media company reported fourth-quarter profit of $0.64 per share, four cents below estimates, with revenue also slightly short of consensus. Analysts appear to be shrugging off the shortfall, saying CBS should have a good year if the ad market remains strong. The company has also increased its stock buyback program by $1 billion dollars for this year, doubling its prior commitment. It will initiate the accelerated purchases during the current quarter.
Agilent Technologies - Agilent earned $0.63 per share for its fiscal first quarter, four cents below estimates. The testing equipment maker also gave a current-quarter outlook below analyst forecasts, as sales fall and operating margins narrow.
PNC Financial Services Group - PNC has named William Demchack as its new CEO, effective April 23. He currently serves as president, and will replace James Rohr on April 23. Rohr will remain as chairman for an additional year.
Scripps Networks - Scripps has increased its quarterly dividend by 25 percent to $0.15 per share from the prior $0.12. It will be payable on March 8 to shareholders of record on Feb. 28.
United Parcel Service - UPS has increased its quarterly dividend by nearly 9 percent to $0.62 per share, as well as authorizing an additional $10 billion share buyback.
Walt Disney - Disney will see opposition in its move to allow the chairman and CEO jobs to be held by the same person. Pension fund California State Teachers' Retirement Systems (CalSTRS) will vote against the proposal, which will be presented at Disney's March annual meeting.
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—By CNBC's Peter Schacknow
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