What's moving markets today: Live updates - CNN

Shares of Campbell Soup (CPB) jumped about 4% before the market opened Wednesday after the company reported strong snack sales in the third quarter.

Sales of its snack brands, including Snyder’s-Lance and Pepperidge Farm, rose 37% during that period. The company said those sales helped drive 16% sales growth in the quarter overall.

The results "were ahead of our expectations," CEO Mark Clouse said in a statement.

Though the company's snack business is performing well, its meals and beverages products are struggling. Sales fell 1% in the quarter, driven by a decrease in V8 and Prego in the United States. "There is more to do," in that segment, said Clouse, adding that the company is nevertheless making improvements on profit and margin, and that the "business is showing signs of stabilization.”

Campbell revised its outlook for the rest of the year because it is anticipating a negative impact from currency translation.

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https://www.cnn.com/business/live-news/stock-market-news-today-060519/index.html

2019-06-05 12:50:00Z
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