Aug 29, 2013

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Morning Movers: Campbell Soup Co. (NYSE:CPB) and Broadcom Inc. (NASDAQ:BRCM)

Morning Movers: Campbell Soup Co. (NYSE:CPB) and Broadcom Inc. (NASDAQ:BRCM)

Campbell Soup Co. (NYSE:CPB) reported on Thursday that its fiscal fourth-quarter profit jumped to a loss of $158 million, or a loss of 50 cents per share, as compared to a year-earlier profit of $127 million, or 40 cents per share.

Revised earnings jumped up to $142 million, of 45 cents per share, as compared to $130 million, or 41 cents per share, a year ago same quarter.

Net sales escalated to $1.72 billion against $1.52 billion last year. Fourth-quarter revised sales, consisting of continuing and discontinued operations, jumped up 13% to $1.82 billion in the quarter. Experts surveyed by FactSet had predicted earnings of 42 cents per share on sales of $1.84 billion. The firm predicts sales from continuing operations to increase 5% to 6% in fiscal year 2014.

Chip manufacturer Broadcom Inc. (NASDAQ:BRCM) is getting prepared for the wearable computing market to burst, and expecting that it would lift its personal business scenario.

Broadcom Chief Executive Scott McGregor was in the Bay Area this week, articulating to the press regarding the Irvine, Calif. firm’s measures in the growing area named as “the Internet of Things.”

This recent tech buzz word refers to linking a major range of utilitarian devices from toasters to home thermostats to watches, to the Internet.

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