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Campbell Soup is blaming sales on a challenging consumer environment. CNBC's Herb Greenberg doesn't buy this argument.
*AT&T to buy DirecTV for $48.5 billion. AT&T slid 1.9 percent to $36.03 and dragged on the Dow a day after the telecom company said it will acquire DirecTV for $48.5 billion, as it seeks fresh avenues of growth beyond the maturing U.S. cellular business. DirecTV shares fell 1.4 percent to $84.92.
Take a look at some of Monday's midday movers:
*Third-qtr sales $1.97 bln vs est. May 19- Campbell Soup Co, the world's largest soup maker, cut its full-year sales forecast as the competition in the cheap-and-easy meals category shows no sign of cooling. "So, consumers have the option- rather than buying soup they might go out and get frozen pizza or mac and cheese," Morningstar analyst Erin Lash said.
*AT&T to buy DirecTV for $48.5 billion. AT&T lost 1.7 percent to $36.12 after the telecom company said it will acquire DirecTV for $48.5 billion, as it seeks fresh avenues of growth beyond the maturing U.S. cellular business. DirecTV shares lost $1.81 at $84.37.
*AT&T to buy DirecTV for $48.5 billion. *AT&T lost 2.5 percent to $35.83 in premarket trade after the telecom company said it will acquire DirecTV for $48.5 billion, highlighting AT&T's pressing need for fresh avenues of growth beyond the maturing U.S. cellular business. DirecTV shares lost one cent at $86.17 in premarket.
May 19- Campbell Soup Co, the world's largest soup maker, cut its full-year sales forecast after posting weaker-than-expected quarterly sales as increased promotions failed to boost its U.S. soup division. Shares of Campbell, which also makes Prego pasta sauces and Pepperidge Farm cookies, fell 5.4 percent in premarket trading.
U.S. stock index futures traded lower on Monday as global stocks continued to fall.
May 19- Campbell Soup Co, the world's largest soup maker, posted weaker-than-expected quarterly sales as increased promotions failed to drive growth in its U.S. soup division. Campbell's shares fell 9.1 percent to $41 in premarket trading after the company also lowered its full-year sales growth forecast.
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Denise Morrison, Campbell Soup president & CEO, provides insight into her company's "tight product strategy," and the state of the consumer right now.
Stocks capped the week with impressive gains as investors seemed to shrug off a batch of mixed economic reports. All three major averages posting their biggest weekly gain of the year.
U.S. stock index futures fluctuated Friday, ahead of more economic data which analysts fear may have been hit by the poor weather.
Some of the names on the move ahead of the open.
Another snowbound—and possibly range bound—day of trading is expected Friday, as thinly staffed trading desks look ahead to the three-day holiday.