Campbell Soup (CPB) - Get Report said Dale Morrison resigned as president, CEO and a director of the company. The New Jersey-based company said its board has appointed David Johnson to serve as CEO until a special committee concludes a search for a new long-term CEO. Johnson had served as Campbell's president and CEO from 1990 to 1997.
The soup company hasn't been looking so
M'm! M'm! Good! of late. It was hit with shareholder lawsuits this year, alleging that company documents misled shareholders about revenues. Last month, Campbell recalled 109,000 pounds of canned vegetable beef soup in 13 states after consumers found long pieces of metal in the soup. What would
priced 4 million shares of
at $16 each, above the expected $12-to-$14 range. The company provides software that allows companies to personalize interactions around communication channels including the Internet, automated response systems, manned customer service systems and others. The Internet e-commerce play is expected to post strong gains when shares begin trading tomorrow.
In other postclose news (
earnings estimates from First Call/Thomson Financial; earnings reported on a diluted basis unless otherwise specified
Earnings/revenue reports and previews
said it anticipates first-quarter system revenue to exceed analyst expectations, citing the growth of the high-end Internet advertising industry. The current three-analyst estimate is for a loss of 33 cents.
reported third-quarter operating earnings of 44 cents a share, well above the five-analyst estimate of 33 cents but down from the year-ago 50 cents.
posted second-quarter earnings of 26 cents, a penny ahead of the nine-analyst estimate and the year-ago 23 cents.
posted fourth-quarter earnings of 26 cents a share, well above the six-analyst estimate of 16 cents a share, and up from the year-ago 20 cents.
CEO L. Phillip Human backed the consensus estimate for profits for the current year. The 21-analyst estimate calls for earnings of $4.41 a share.
U S Oncology
posted fourth-quarter earnings of 19 cents a share, beating the nine-analyst estimate of 15 cents, but down from the year-ago 60 cents.
posted third-quarter earnings of 12 cents a share, ahead of the eight-analyst estimate of 10 cents. The year-ago 5 cents includes a gain.
Mergers, acquisitions and joint ventures
said it plans to sell its Puerto Rican division to a private investor for about $120 million to $125 million, including about $100 million in cash.
agreed to merge in a stock deal valued at about $834 million. The deal will create a combined oilfield equipment and services organization, called Varco International, with a market capitalization of about $1.8 billion based on closing stock prices. Tuboscope will issue 0.7125 new shares in exchange for each share of Varco common, resulting in about 94 million shares on a fully diluted basis.
Offerings and stock actions
said its board approved a 2-for-1 stock split.
set a 3-for-2 stock split.