Campbell tries to reassure investors

May 22, 2009 9:01:58 AM PDT
The Campbell Soup Company is trying to reassure investors that the company is having a strong year even though soup sales were down for the third quarter. The company released its quarterly results Thursday afternoon - a day before they were planned.

The unusual move came as analysts were speculating that the report would be particularly rough.

Instead, it was a case of good news-bad news. Profits were down. Adjusted profits were up. Soup sales were down. But the company raised its outlook for the rest of the fiscal year.

On a conference Friday, Campbell President Douglas Conant told analysts that the company's fiscal year so far has been good despite many challenges.

Campbell's stock was up 54 cents to $27.33 at midday Friday.

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