What's Ahead Friday: Will Campbell Soup Heat Up Its Earnings, Revenue?
In "What's Ahead on Wall Street" for Friday, May 20, we'll be focusing on several companies as quarterly earnings reports keep trickling out.
In the morning, we hear from Deere (DE) - Get Report , Campbell Soup (CPB) - Get Report and Foot Locker (FL) - Get Report .
Many investors are waiting for Campbell Soup's results. For the most recent quarter, Wall Street is looking for earnings of $0.64 a share on revenue of almost $2 billion. Both the top and bottom line are projected to go up slightly from a year ago.
Earlier this year, the company said it will revamp packaging so that its labels will disclose GMO ingredients. This makes Campbell Soup the first major food company to start disclosing genetically engineered ingredients in its products.
Analysts believe its cost-cutting efforts will lift results, but one headwind could be foreign exchange.
On the economic calendar, we have Federal Reserve governor Daniel Tarullo giving a speech in the morning about insurance companies and regulation in Washington. After that, we'll get existing home sales.
