Germany arrested 25 right-wing extremists who were allegedly plotting to overthrow the government.
tin can. Bigger chunks of stuff. Getting wild with noodle shapes. That’s a full list of the innovations in the soup industry over most of the last ~125 years, and it’s not exactly a recipe for rapid growth. Yet Campbell Soup Company is boiling hot after announcing better than expected earnings yesterday.
The company revealed that organic sales (revenue outside of merger impacts) jumped 15% from the year prior, beating estimates, and that consumers responded better to inflation-based price hikes than anticipated. The soup stock (not the liquid) hit 52-week highs on the news. It’s up about 28% year to date, while the S&P 500 is down ~18%. So what’s going on with soup?
Cheap, long-lasting foods tend to do better in economic downturns. But Campbell’s didn’t find success just by waiting for inflation to hit: Since 2019, the company has been fully leaning into innovation, using AI to comb through 300 billion data points every year in search of new product ideas.
Musk remains “which of my jets should I take today?” loaded, with more than 185billioninnetworth,buthisfortunehastakena70 billion hit since he offered to pay $44 billion to make Twitter’s problems his own—mostly because Tesla stock is down about 50% this year.
According to the Financial Times, the star’s team made it to late-stage negotiations with FTX for a $100 million sponsorship—apparently celebrity-happy FTX wanted to get involved because ex-CEO Sam Bankman-Fried is “a fan of Tay Tay.”
Luckily for everyone’s favorite anti-hero, she didn’t end up associated with the brand because talks broke down a few months before FTX blew up.
The price tag for keeping Swift bejeweled on tour was reportedly too high for the crypto exchange.
Feeling apocalyptic? This game lets you launch an asteroid at Earth.