Nora Melinda, Bloomberg TV markets correspondent known for on-the-record stock coverage. She breaks down Campbell’s profit cut and sinking shares. She explains Sable Offshore’s rally tied to a potential Defense Production Act move. She covers Petco’s strong forecast and the surge in its stock.
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insights INSIGHT
Campbell's Sees Decade Low After Consumer Shift
Campbell's cut its profit outlook to the lowest in a decade, sending shares to a 23-year low and down about 7%.
Nora Melinda and Carol Massar attribute the hit to changing consumer preferences away from chips, pretzels, and canned soups plus supply constraints on baked goods.
question_answer ANECDOTE
Hosts Recall Chicken Noodle Soup Nostalgia
Hosts reminisced about eating Campbell's chicken noodle soup when sick and shifting to lower-sodium brands like Progresso.
Carol Massar and Nora Melinda used their personal soup stories to illustrate changing consumer tastes affecting sales.
insights INSIGHT
Sable Offshore Jumps on Possible Defense Production Act Move
Sable Offshore rallied about 15% after a Bloomberg exclusive said President Trump may use the Defense Production Act to ease permitting for California offshore oil production.
The move targets a cluster of platforms off Santa Barbara to restart output and help global crude supply amid the Iran war.
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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Campbell's (CPB) cut its profit outlook to the lowest in a decade as consumers eschew chips and pretzels while supply constraints are weighing on sales of freshly baked goods. Full-year earnings, adjusted for some items, are now seen between $2.15 to $2.25 per share, below the prior range of $2.40 to $2.55, according to a Wednesday statement. That’s set to be the lowest profit since 2009. Shares sunk in trading on Wednesday.
- Sable Offshore (SOC) rallied after word that President Donald Trump is preparing to invoke Cold War-era powers to clear the way for renewed oil production off the southern California coast, a long-shot bid to help ease the global crude supply crunch spurred by his war with Iran. Trump is set to soon summon authorities under the Defense Production Act to preempt state laws and ease permitting for Sable Offshore Corp., a Houston-based company looking to restart significant production from a cluster of offshore platforms in California. The plan was described by a person familiar with the matter who asked not to be named because it’s not yet public. A White House official said that any policy announcement would come directly from the president. Sable didn’t respond to a request for comment.
- Petco (WOOF) forecast annual earnings above analyst estimates, signaling that consumer pet spending remains durable despite tariff and economic uncertainty. The shares surged as much as 20% in postmarket trading. The San Diego, California-based company said in a Wednesday statement that it sees adjusted earnings before interest, taxes, depreciation and amortization for the year ending early 2027 of $415 million to $430 million, beating analyst estimates of $404.4 million.
Stock Movers