Shares of Campbell Soup Co (NYSE: CPB) gained about 0.1% after the company reported higher FQ3 profit on Monday. Campbell reported its FQ3 net income at $187 million, or $0.57 per share, up from $168 million, or $0.49 per share, in the year-earlier period. Its sales surged to $1.81 billion from $1.80 billion. Campbell's gross-profit margin dropped to 40.4% from 41.2%. However, analysts were expecting Q3 earnings of $0.52 per share on revenue of $1.80 billion. Campbell projects its full-year earnings per share at the high end of its projections.
Ceres Inc filed to raise up to $100 million in an initial public offering of common stock on the Nasdaq Global Market for trading under the symbol CERE. Goldman Sachs and Barclays Capital are underwriting the IPO.
Shares of Perry Ellis International Inc (NASDAQ: PERY) dropped about 5% about after the company reported upbeat quarterly results and lifted its earnings guidance for the year. Perry Ellis reported its Q1 net income at $15.4 million, or $0.99 per share, up from $11.2 million, or $0.81 per share, in the year-ago period. Excluding items, PERY's earnings came in at $1.08 per share. Its revenue climbed 31% to $288.3 million. However, analysts were expecting earnings of $0.99 per share on revenue of $277.1 million. Perry Ellis now projects 2012 earnings of $2.40 to $2.50 per share, versus its earlier forecast of $2.30 to $2.40 per share.
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