Check Out Line: Souped up

June 30, 2008

campbellsoup.jpgConsumers 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.

Also in the basket:

Spending less at the ballpark

Growth in negative equity pressures homeowners

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