Did These Two Companies Deliver Solid Earnings?
The week started off poorly for the Dow (NYSE:DIA) and S&P 500 (NYSE:SPY), both closed lower Monday amid renewed concerns over the EU’s sovereign debt crisis and fears of slowing growth in China (NYSE:FXI). Did these companies also take part in Monday’s sell off?
Here’s your Cheat Sheet to 2 high profile earnings releases from Monday:
1) Campbell Soup Company (NYSE:CPB): Shares of Mom’s world favorite chicken-soup and cure all health remedy maker are up 0.5% this morning. Campbell Soup reported Q1 results with EPS of 57 cents, beating Wall Street estimates of 52 cents a share. Last quarter’s profit increase breaks a streak of two consecutive quarters of year-over-year profit decreases. Revenues increased 1% from last year to $1.813 billion, which also beat estimates of $1.8 billion. The future may not be as bright for Campbell’s though, as the company expects a 1% decline in sales in the fiscal year 2011 as well as a drop of 1-3% in adjusted earnings. Watch out for these Campbell’s Competitors in the coming months: General Mills Inc. (NYSE:GIS), HJ Heinz Co.(NYSE:HNZ), and Del Monte Foods Co. (DLM). Check Out Campbell Soup Full Earnings Coverage.
2) Krispy Kreme Doughnuts, Inc. (NYSE:KKD): Shares are responding positively to yesterday’s solid earnings release, up over 16%. EPS of 13 cents beat analyst estimates by 4 pennies, while revenue increased 13.6% to $104.6 million. Corporate refinancing of credit facilities coupled with lower impairment costs combined to help Krispy Kreme beat estimates this quarter. Competitors to keep an eye on: Retail Food Group Limited (NYSE:RFG), Jamba, Inc. (NASDAQ:JMBA), Peet’s Coffee & Tea, Inc. (NASDAQ:PEET), Starbucks Corporation (NASDAQ:SBUX). Check Out Krispy Kreme Full Earnings Coverage.
Disclosure: No positions