$CPB More then just Soup
Despite the name Campbells Soup the company actually has a fairly deep product catalog.

From the traditional Campbells soup to PACE, Prego, and even Swanson $CPB seemingly owns entire isles of grocery stores.

In addition, the company owns a deep catalog of snack brands. Even more shelf space.

This translated to $8.5b in net sales in 2021.

And Campbells has been effectively lowering the total debt of the company and driving up operating cash flow despite the ridiculousness of the chart.
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Paul Cerro's avatar
$18.6m follower assets
Power behind Costco’s private label brand, Kirkland Signature
$59 billion+: Total 2021 sales of Kirkland Signature brands, a 13.5% change from last year. Costco’s $COST total revenues for 2021 equaled $192 billion, a year-over-year increase of 18%. Kirkland is the biggest consumer packaged goods brand in the US by sales, larger than Hershey $HSY, Campbell Soup $CPB, or Kellogg $K, per CNN.

31%: Kirkland Signature’s percentage of Costco sales, per RetailWire. Online, Costco carries 125 private label SKUs, which represent 8.1% of total SKUs.

$75 billion: Kirkland Signature’s valuation in 2019, according to UBS, per Insider. According to the Private Label Manufacturing Association, private label sales have grown nearly 40% from 2019 to 2021, so that $75 billion valuation is likely more.

15% to 20%: How much less Kirkland Signature products cost than branded alternatives, according to Jim Sinegal, co-founder and former CEO at Costco. According to an EY survey from October 2021, 58% of respondents are more focused on value than they were pre-pandemic.

89.7%: The percentage of US adults who cited better value as the reason they switched from a national brand to a private label brand. Other reasons include better assortment/selection (52.0%), deal/membership rewards offered with purchase (47.9%), and national brand was not available (41.1%).
Amazing.

This is unfortunately one of those companies that I am fascinated by, and seems like an obvious buy -- but have never gotten around to making it a holding.

May change that soon after seeing this data laid out . 🙏🙏
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Alberto Wallis's avatar
$8.7m follower assets
Upcoming Earnings Calendar (March 7th - 11th)
Hey guys! Here's the upcoming earnings calendar! I'm interested in:

  • $ZIM - Comments on their outlook for shipping prices.
  • $CRWD - Another stellar earnings report and I'll probably start a position in this company.
  • $MQ - How fast are their non-$SQ revenues growing?

Which earnings report are you looking forward to?

If you'd like an easier way to track earnings dates, you can automatically sync your portfolio's earning dates to your personal calendar with just a couple of clicks here.
MON:



TUE:



WED:



THU:



FRI:

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Russia-Ukraine Continues to Drive Markets: Daily Contrarian, Feb. 18
Good morning contrarians! Yesterday saw a pretty significant sell-off as fears over Russia-Ukraine took center stage. The Nasdaq gave up almost 3% and Dow Industrials had their worst day of the year so far. Cryptos dropped and bonds rallied. But oil and gas curiously did not. More on that in the bottom line.

The latest developments here are that Secretary of State Antony Blinken proposed a meeting with his Russian counterpart next week. President Biden has a call with other NATO leaders this afternoon and Vice President Kamala Harris and House Speaker Nancy Pelosi are in Munich for a security conference. Figure they could have maybe chosen a better city for that? Well, whatever…

State of Play
Stock futures have bounced off the lows and are heading higher this morning. Presumably the Blinken news overnight was the cause for the shift. As of 0635, the Nasdaq is up 0.7%, with Dow Industrials up 0.5% and S&P 500 0.3%.

Bonds have stopped their advance in keeping with this risk-on theme, with the yield o the 2-year up a bit to 1.49% and the 10-year at 1.98%.

Commodities are selling off pretty precipitously, with WTI crude down 2.5% to below $90/barrel and natural gas off 1.2% to $4.40. But industrial metals are continuing to advance: Zinc, nickel, and aluminium all up 1% or more. Copper is up a little less.

Gold and silver are dropping a bit, with gold about 0.6% lower to drop below $1900/oz. Cryptos are being sold more significantly, with bitcoin down 6% to around $40,400.

Earnings
Earnings seasons is winding down but there are a few big companies still left to report. DraftKings ($DKNG) is up this morning at 0700. Deere ($DE) and Campbell Soup ($CPB) are also expected.

Economic Data
Existing home sales are out at 1000. These are expected to have decrease by 1% month-over-month in January, to 6.1 million from 6.8 million. Building permits and housing starts (which are more of a leading indicator than existing home sales) were mixed yesterday, with permits beating expectations and housing starts falling short.

We also have a bunch of Fed speakers again today: Chicago Fed President Charles Evans, New York Fed President John Williams, and Fed Governors Lael Brainard and Christopher Waller.

The Bottom Line
It’s all still about Russia-Ukraine. As pointed out yesterday, the movement in asset prices is not entirely consistent here. For example, if fears of an invasion were really pronounced, you could expect oil and especially natural gas (seeing how it’s Russia) to spike. But they actually dropped yesterday and are continuing their descent this morning. Also Russian indexes and ADRs still remain above their lows from a couple of weeks ago.

So either investors aren’t taking the invasion threat entirely seriously, or they’re just using the excuse to dump certain stocks (cough, tech). Doesn’t mean they’re right on either count of course.

For contrarians who still believe in a growing economy, this has created an opportunity to put money to work. Through one does have to be concerned about the levels where certain tech stocks are trading: most are well into correction territory if not an outright bear market.

Either way, do your own research. Make your own decisions. And have a nice weekend.

Special Notice
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Become a subscriber to listen to the podcast, get these briefings in your inbox each morning and take advantage of a host of other benefits. As a CommonStock member you get a discount too. Just click this link:

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Upcoming Earnings Calendar (Dec. 6th-10th)
Happy Friday everyone! Here is next week's upcoming earnings calendar. I have no position in any of these stocks but there are several that intrigue me:

  • $RH - This company always beats expectations, their management is extremely good, and the valuation (21x Fwd PE) is attractive. A post-earnings sell-off might be a good time to buy.
  • $LULU - $AEO reported strong casual wear sales so Lululemon should also post strong results.
  • $S - I believe cybersecurity stocks will be winners in the coming decade and I want to learn more about the space. The valuation for this one and $CRWD is too high for my liking but hopefully, we'll get good opportunities after the sell-off.
  • $PATH - What this company is doing with automation is very interesting but I don't know enough about it to comment.

Remember, if you'd like an easier way to track earnings dates, you can automatically sync your portfolio's earning dates to your personal calendar with just a couple of clicks here.

MON:
TUE:
WED:
THU:
FRI:
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This week's featured earnings!
Surprisingly strong list of interesting companies announcing earnings at the tail-end of earnings seasons -

Which ones are you most interested in?

P.S. If you want an easy way to NEVER forget an earnings call, you can use the Fincredible service to automatically sync earning events to your personal calendar for the companies you follow here
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Interested in cyber so seeing Okta and Crowd will be a good indicator
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Eric Pelnik's avatar
$266.9m follower assets
Earnings this week
📞Which calls are you most excited about?

Monday, Aug 30th
$HRB H&R Block
$ZM Zoom Video Communications
$CLDR Cloudera

Tuesday, Aug 31st
$PLAN Anaplan
$CRWD Crowdstrike
$FUTU Futu

Wednesday, Sept 1st
$ASAN Asana
$FIVE Five Below
$CPB Campbell Soup
$CHWY Chewy
$NTNX Nutanix
$OKTA Okta

Thursday, Sept 2nd
$AEO American Eagle Outfitters
$BNED Barnes & Noble Education
$AVGO Broadcom
$HRL Hormel Foods
$DOCU DocuSign
$LE Lands' End
$MDB MongoDB
$MDLA Medallia
$PD Pagerduty
$KIRK Kirkland's
$F Ford Motor

Friday, Sept 3rd
None

Sources: Business Insider, Google Finance, Yahoo Finance
Eric Pelnik's avatar
$266.9m follower assets
Earnings this week
📞Which calls are you most excited about?

Monday, May 31st
$AMSC American Semiconductor
$CBRL Cracker Barrel

Tuesday, June 1st
$ZM Zoom Video Communication
$CPB Campbell Soup
$CGC Canopy Growth
$MDLA Medallia

Wednesday, June 2nd
$AAP Advance Auto Parts
$CLDR Cloudera
$SJM JM Smucker
$DOCU DocuSign
$ESTC Elastic
$LE Lands' End
$SPLK Splunk
$SMAR Smartsheet
$RH Restoration Hardware

Thursday, June 3rd
$LULU Lululemon
$FIVE Five Below
$CRWD Crowdstrike
$AVGO Broadcom
$MDB MongoDB
$PD Pagerduty
$WORK Slack
$SUMO Sumo Logic

Friday, June 4th
None of interest

Sources: Business Insider, Google Finance, Yahoo Finance
Eric Pelnik's avatar
$266.9m follower assets
Earnings this week
Monday, Dec 7th
$COUP Coupa Software
$SMAR Smartsheet
$SFIX Stitch Fix
$SUMO Sumo Logic

Tuesday, Dec 8th
$CHWY Chewy
$AZO AutoZone
$MDB MongoDB
$HRB H&R Block

Wednesday, Dec 9th
$ADBE Adobe
$PTON Peloton
$PANW Palo Alto Networks
$CPB Campbell Soup
$ASAN Asana
$WORK Slack

Thursday, Dec 10th
$CSCO Cisco
$ORCL Oracle
$COST Costco
$LULU Lululemon
$MTN Vail Resorts
$PLAY Dave & Buster's

Friday, Dec 11th
None of interest

Sources: Business Insider, Google Finance, and Yahoo Finance
Eric Pelnik's avatar
$266.9m follower assets
Earnings this week
Monday, Nov 16th
$VOD Vodafone Group
$PANW Palo Alto Networks
$TSN Tyson Foods
$SDC SmileDirectClub
$BIDU Baidu
Tuesday, Nov 17th
$WMT Walmart
$HD Home Depot
$KSS Kohl's
$SE Sea
$NIO Nio
Wednesday, Nov 18th
$NVDA Nvidia
$LOW Lowe's
$TGT Target
$CLX Clorox
$CPB Campbell Soup
$SONO Sonos
Thursday, Nov 19th
$INTU Intuit
$WDAY Workday
$WSM Williams-Sonoma
$M Macy's

Friday, Nov 20th
$FL Foot Locker

Sources: Business Insider, Yahoo Finance!, and Google Finance
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