Diamonds and Dogs
Campbell Soup (CPB) pleasing shareholders today. The stock is trading up 5% to a two month high following better than expected earnings. Campbell's beat earnings estimates by 8 cents as revenue rose 24.7% to $2.69 billion ahead of estimates. The company is in the midst of a turnaround to revitalize its business with long-term organic growth expected in 2019. Campbell's stock is still in a correction down 16% year to date after running into supply-chain challenges over the summer.
Retailers feeling the blues ahead of Black Friday. Plenty of earnings reports from the retail sector today, but almost all of the stocks are trading lower. Kohls (KSS) is down 9%, Ross Stores (ROST) is down 7%, Barnes & Noble (BKS) is down 5%, TJX (TJX) is down 4%, Target (TGT) is down 10%, Lowes (LOW) is down 4%, Hormel (HRL) is down 2% and L Brands (LB) is down 14%. Best Buy (BBY) is one of the few retailers trading higher following earnings.
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