Investing.com - Campbell Soup rose midday following a solid quarterly report and guidance as the food giant continues to look for ways to slim down.
Campbell (NYSE:CPB) shares rose 8%, helping the consumer discretionary sector gain 0.6%.
The company reported fiscal second-quarter earnings of 77 cents per share on sales of $2.71 billion, topping the consensus forecast compiled by Investing.com.
For fiscal 2019, Campbell Soup predicts earnings of $2.45 to $2.53 per share, in line with Street estimates, according to Briefing.com. Sales guidance of $9.975 billion to $10.1 billion topped current forecasts.
The company is close to a deal to sell its Bolthouse Farms beverage unit, but the process to sell its sought-after international business, which could fetch up to $3 billion, may be slowing down due to lack of interest in some parts, the New York Post reported.