Campbell Soup Stirs Interest in Stock

CAMDEN, NJ. (TheStreet) -- Campbell Soup(CPB Quote) has built up significant momentum in its first fiscal quarter to report results that have beaten analysts estimates.

Campbell recorded earnings of 87 cents per share on revenues of $2.2 billion compared to 70 cents on revenues $2.25 billion in the same quarter last year. While sales decreased in its Prego pasta and Pepperidge Farm cookie lines, among others, profits were up in all.

In Monday trading, Campbell shares have swung wildly, spiking by more than $1.00 in pre-market trading, to $35.12, before dropping to below its Friday close mere minutes after the market open and then settling at a gain of 18 cents on the day by noon. The action was heavy for the stock, having eclipsed its average daily volume of 2.01 million shares just after noon.

Food giant competitor Kraft(KFT Quote) has edged up 0.7% to $27.35, and Tyson Foods is down 0.3% to $13.03.

Campbell advised that the company had recently implemented new accounting the guidelines that resulted in a reduction of diluted earnings for the first quarter and fiscal 2009 by 1 cent.

Analysts had projected earnings of 81 cents on revenues of $2.28 billion.