$CPB

Jefferies reported grocery basket prices fell at six of seven major retailers, with the average price dropping to $82.40. Kroger (KR) saw its lowest prices since June, while Walmart (WMT) increased prices but remained the cheapest. Giant and Albertsons (ACI) were the most expensive. Target (TGT) and Food Lion also decreased prices. Promotions were at their highest since July, with Food Lion leading. Mondelez (MDLZ) and Campbell (CPB) products were among the most promoted.

General Mills (GIS) and other packaged-food stocks rose 3-6% after Kraft Heinz (KHC) CEO said price hikes are likely in 2027. Kraft Heinz raised its 2026 sales outlook and expects inflation above 5% next year. Conagra (CAG) reported higher prices but lower volume in its latest quarter. General Mills trades at 11x forward earnings, below its 5-year average.

AI is disrupting internet search, impacting companies like Apple (AAPL), Reddit (RDDT), and Google (GOOG, GOOGL). Apple reported slower services growth due to third-party licensing challenges. Reddit saw a 29% stock drop after reporting declines in search traffic. Google's search revenue growth slowed to 12% in Q3. Fiverr (FVRR) and LegalZoom (LZ) also cited AI's impact on their businesses.

Lazard completed its $460M acquisition of Campbell Lutyens, launching Lazard CL. The new unit will advise on private capital markets, with over 300 professionals. Lazard expects the deal to boost revenue and earnings, targeting $500M combined revenue in 2027. The acquisition aligns with Lazard's 2030 strategy to diversify services.

BWX Technologies (BWXT) was chosen by the U.S. Army to develop a 20-megawatt nuclear microreactor at Fort Campbell, Kentucky, as part of a $2.2 billion program. BWXT's selection outpaces competitors like Oklo and NuScale, leveraging its established nuclear business and existing contracts. The reactor is expected to begin operations in the early 2030s, with BWXT reporting $902 million in Q2 2026 revenue and an $8.4 billion backlog.

Kraft Heinz (KHC) and General Mills (GIS) reported earnings, with both offering high dividend yields but no growth. KHC beat estimates, reduced debt, and has a lower payout ratio. GIS missed on organic sales and has higher leverage. Investors are assessing dividend safety after Campbell's (CPB) recent cut.

Campbell Soup (CPB) reduced its quarterly dividend by 36% to $0.25 per share, citing weak Q4 results with net sales down 7.9% and operating income at $4M. The company aims to use savings to reduce debt. Full-year free cash flow was $678M, with dividends consuming 69%. CEO Mick Beekhuizen called the cut 'necessary.' The new payout ratio is projected to be 56-61% of fiscal 2027 guidance. The stock is down 20.71% YTD and trades near $20.78, offering a 4.8% forward yield.

Campbell Soup Company's stock fell 16% in September 2026 due to disappointing earnings, with Q4 revenue dropping 8% to $2.1B, missing estimates. Adjusted operating earnings declined 25% to $242M, and the dividend was cut 36%. The company expects a 2-4% sales decline in 2027, with EPS between $1.65-$1.80, below analyst forecasts. Higher food prices and a past executive controversy add to challenges.

Lazard (LAZ) expects growth from advisory, asset management, and Campbell Lutyens integration, with $500M revenue accretion by 2027. Cost-cutting efforts aim to improve margins. ETF and fixed income product launches target revenue diversification. Key catalysts include integration progress, efficiency gains, and product expansion. LAZ trades at $37.41.

Campbell Soup (CPB) cut its dividend 36% to $0.25 per share to reduce debt, while J.M. Smucker (SJM) raised its payout to $1.12 and improved its fiscal 2027 outlook. Campbell's yield is 5.1% vs. Smucker's 3.5%. Smucker has better dividend coverage and cash flow, while Campbell's faces higher debt and declining earnings.