(Reuters) – Campbell Soup Co Chief Executive Officer Denise Morrison unexpectedly stepped down on Friday, as the company issued a bleak forecast for the year and said it would embark on a review of its many brands.
Campbell’s shares slumped 12 percent in mid-afternoon trading, hitting a more than five-year low and putting them on track for the worst one-day decline since 1999. Food companies like Campbell have been pressured as consumers increasingly move away from processed food toward healthier options. The shifting consumer tastes are partly to blame for four straight years of declines at Campbell’s U.S. soup business, a period that Morrison oversaw. …read more […]
NEW YORK (Reuters) – “Sell in May and go away,” arguably the most well-worn axiom on Wall Street, has proven to be shrewd advice during previous midterm election years.
U.S. regulators have approved a Buck Rogers makeover of Boeing Co.’s revamped 777 jetliner that will allow the tips of its massive wings to fold upward after landing so the plane can park at existing airport gates. The new wings, the largest ever created by the Chicago-based planemaker, are taking shape as Boeing builds the first of its 777X jetliners in a factory north of Seattle. …read more […]
WASHINGTON (Reuters) – President Donald Trump has personally pushed the postmaster general to double the rates the U.S. Postal Service charges Amazon.com and other companies to ship packages, the Washington Post reported on Friday, citing three unnamed sources.
LONDON (Reuters) – Russia’s En+ Group, which manages Oleg Deripaska’s aluminum and hydropower businesses, is likely to ask the U.S. Treasury for more time to reduce Deripaska’s stake, a source close to the company said.
WASHINGTON (Reuters) – Fiat Chrysler Automobiles NV shares fell more than 3 percent in New York trading on Friday amid investor concern about allegations mounted in court filings over alleged excess diesel emissions.
(Reuters) – Wall Street edged lower on Friday, weighed down by bank and chip shares as well as a handful of tepid earnings reports, although losses were capped by gains in industrial stocks on signs of progress in Sino-U.S. trade talks.
CNBC’s Sue Herera reports on the latest developments in the deadly Santa Fe High School shooting in Texas where it is believed 8-10 people were killed. …read more […]
WASHINGTON (Reuters) – The U.S. gun lobby is taking aim at “gun-hating” banks after Citigroup Inc and Bank of America said they would no longer provide certain banking services to gun-makers, according to industry lobbyists.
CNBC’s Sue Herera reports the latest on the fatal school shooting in Sante Fe, Texas. …read more […]
The local sheriff says as many as 10 people may have been killed during a shooting at a high school near Houston, most of them students. Harris County Sherriff Ed Gonzalez Harris County said there “could be 8 to 10 fatalities” from the shooting Friday morning at Santa Fe High School, about 30 miles (48 kilometers) southeast of Houston. Gonzalez says the majority of the dead are students. …read more […]
(Reuters) – Qualcomm Inc’s $44 billion deal to buy Dutch chipmaker NXP Semiconductors NV is looking “more optimistic now”, the Wall Street Journal quoted a Beijing official as saying.
LONDON (Reuters) – BMW is expanding a recall of vehicles in Britain, which it launched last week, by 88,000 cars to a total of 390,000, in the wake of a BBC investigation which found that some vehicles could cut out completely while being driven.
(Reuters) – Wall Street slipped on Friday, weighed down by financials and as Alphabet and Applied Materials led technology stocks lower, although losses were limited as industrial shares gained on signs of progress in Sino-U.S. trade talks.
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