Campbell Soup to Sell to Russian Markets via by Coca-Cola Hellenic
Campbell Soup (CPB) and Coca-Cola Hellenic Bottling (CCH) have entered into a long-term deal to distribute Campbell's soups in Russia. Campbell's will be responsible for consumer and market research, branding, marketing, product development and production, while Coca-Cola Hellenic Bottling will handle the distribution, sales and in-store marketing of the soup products.
We had removed shares of Campbell's from our "recommended" list back on Oct. 8 when the stock was trading at $38.67. The company has a 3.66% dividend yield based on Friday's closing stock price of $27.35. The stock has technical support at the $25 to $26 level. If that fails to hold, we could potentially test the $21 level. If the stock can rebound, we see overhead resistance around the $34 to $36 price area. We would remain on the sidelines for now; the stock has a Dividend.com DARS Rating of 3.3 out of 5 stars. Coca-Cola Hellenic is not recommended either, Dividend.com DARS Rating of 3.2 out of 5 stars.
Monster Worldwide Downgraded by WachoviaOnline employment giant Monster Worldwide (MWW) was downgraded by Wachovia Capital Markets analysts Tuesday, citing slowness in recruitment advertising and pricing pressure from other job-hunting services. Wachovia downgraded Monster to "underperform" from a previous rating of "market perform," and said that it doesn't expect a recovery in job recruitment ad spending until 2011.
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