Campbell Soup to Sell to Russian Markets via by Coca-Cola Hellenic
(CPB - Get Report)
Coca-Cola Hellenic Bottling
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.
Campbell Soup said that the deal represents a "significant growth opportunity" in the Russian markets. Coca Cola HBC is already distributing Campbell's Home Classics soup line in the Moscow area. The financial details of the agreement were not disclosed. Campbell Soup shares rose 43 cents or 1.6% in morning trading Tuesday, while Coca-Cola Hellenic shares rose 12 cents, or +0.6%.
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 Wachovia
Online employment giant
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.