Consumers may be cutting back on restaurant visits and car purchases but they are still buying crackers and juice, as Campbell Soup raised its full-year profit forecast.
The maker of Pepperidge Farm cookies and V8 juice has raised prices to offset soaring commodity costs and announced a $1.2 billion share buyback program that should help boost shares.
In more news on consumer staples, UBS is recommending that investors look to price leaders such as Wal-Mart Stores and Kroger, saying they are poised to gain market share as consumers shop for the best deals. That firm downgraded shares of grocers Safeway and Whole Foods.
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