Campbell Soup Lowers Full-Year Sales Forecast and Intermolecular Inc. Enters Licensing Deal with SanDisk Corp. and Toshiba
Campbell Soup Company (NYSE: CPB) has cut its full-year sales forecast. The company expects sales from continuing operations to increase about 3 percent compared with its previous forecast of a 4-5 percent rise. Campbell also expects full-year adjusted earnings to be at the low end of its forecast of $2.53-$2.58 per share, while analysts on average expected a profit of $2.53 per share. For the third quarter ended April 27th, the company's U.S. soup sales were flat compared with the same quarter last year when sales rose 14 percent. Total sales rose 0.4 percent to $1.97 billion, but this came in below the average analyst estimate of $2.0 billion, according to Thomson Reuters I/B/E/S.
Campbell Soup Company, together with its subsidiaries, manufactures and markets branded convenience food products. It operates through U.S. Simple Meals; Global Baking and Snacking; International Simple Meals and Beverages; U.S. Beverages; and Bolthouse and Foodservice segments. The company offers condensed and ready-to-serve soups, broth and stocks, pasta sauces, Mexican sauces, snacks, cookies, crackers, bakery and frozen products, biscuits, juices and beverages, refrigerated beverages and refrigerated salad dressings, specialty entrées, and other prepared foods, as well as canned gravies, poultry, pasta, and beans; and fresh carrots, juice concentrate, and fiber in the United States, Canada, Australia, and the Asia Pacific.
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Intermolecular, Inc. (NASDAQ: IMI) announced that SanDisk Corp. and Toshiba have jointly elected to take an exclusive license, in a limited field, to the company's rights in the intellectual property developed under the collaborative development program and Intermolecular's background intellectual property. SanDisk's and Toshiba's CDP with Intermolecular is to develop memory products, materials, processes and device technologies. Both companies will prepay non-refundable royalties in quarterly installments over a predetermined period, according to Intermolecular.
Intermolecular, Inc. develops and applies high productivity combinatorial (HPC) research and development technologies for the semiconductor and clean energy industries. Its HPC platform includes wet processing tools that apply HPC methods to fluids-based applications, such as cleans, deposition and wet etch, self-assembly, and surface treatment processes; and dry processing tools, which apply HPC methods to vapor-based applications for primary, secondary, and tertiary screening.
Get more information on Intermolecular, Inc. and free access to the in depth equity report at: www.TrendingWallStreet.com/stockquote/IMI
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