“From soup to qubits”: Xanadu to open advanced photonics hub in old Campbell’s factory

Utz UTZ.N agreed to be taken private by Germany’s Intersnack Group, with Utz’s founding families, in a deal valued at nearly $3 billion, the first U.S. acquisition for Intersnack. The article cites other family-led snack deals including Ferrero’s purchases of WK Kellogg and Power Crunch, and Mars’s $36 billion take-private of Kellanova. It notes valuation multiples and potential targets.

Between June 1-5, five Wall Street analysts adjusted Campbell’s (CPB) outlook ahead of its June 8 Q3 fiscal 2026 results, according to Benzinga. Targets were cut by Morgan Stanley ($21 from $23), Bernstein ($19 from $21, downgraded to underperform), UBS ($19 from $20), and Evercore ISI ($24 from $26). Campbell reported adjusted EPS of 50 cents (+1 penny YoY, -32%), net sales down 4% to $2.4B, and margin pressure from tariffs; snacks margins fell ~400 bps.

Campbell’s executives said incentive compensation reset and higher marketing are expected to add about a $40 million impact next year, while the company plans to accelerate savings from a previously announced $100 million SG&A reduction and other productivity initiatives. Snacks margins improved sequentially (EBITDA margin ~7% to ~10%) but remain ~400 bps below last year. Q4 net sales are expected flat to slightly up; adjusted EPS likely around $2.20 or below.

S&P 500 index managers announced quarterly changes: Marvell Technology and Flex Ltd. will join the index, while Pool Corp. and Campbell’s Co. will be removed. The article says added stocks have averaged about +255% over the past year versus -36% for deletions. It cites Research Affiliates’ 2024 paper: deletions outperformed by over 5% annually over the next five years.

Wall Street rebounded Monday after Friday’s sell-off, with the S&P 500 up 0.5% and the Nasdaq up 1.1%. AI chip and memory stocks led gains: Micron rose 9.8% after a 13.3% Friday drop, and Marvell jumped 12.7% after S&P Dow Jones said it will join the S&P 500. Oil eased from overnight highs after Iran halted offensive operations; Brent was $94.31.

Wall Street steadied after last week’s sell-off, with the S&P 500 up 0.3% (Nasdaq +0.9%, Dow -0.2%). AI-linked chip and memory stocks rebounded: Micron rose 9.9% after a 13.3% Friday drop; Marvell gained 9.6% after being approved for the S&P 500. ASX futures pointed to a 0.3% open gain. Oil rose on Israel-Iran strikes, with Brent settling at $94.25 (+1.2%).