There is not much to get excited about in canned-soup maker Campbell's third-quarter results, with sales slumping and softness in its snack unit weighing on performance. But one revealing detail from management's earnings call earlier on Monday offers a broader read-through on the consumer: households may be spending much more time cooking at home and pulling back from restaurants in the second half of the year.
The canned-soup maker reaffirmed its full-year outlook, but Wall Street analysts were muted on the third-quarter results.
BNP Paribas Max Gumport told clients that two key concerns remain: Campbell's ability to stabilize organic sales in the snack unit and to navigate another year of elevated inflation. He noted the quarterly beat was driven largely by SG&A and below-the-line items, while the guidance reaffirmation was partly supported by an expected fourth-quarter tariff refund benefit.
Third-quarter adjusted EPS printed at 50 cents, beating the 48-cent Bloomberg Consensus estimate but down from 73 cents in the same period one year ago. Net sales fell 4.4% to $2.37 billion, slightly below estimates. Organic net sales declined 4%, worse than the 3.3% drop analysts tracked by Bloomberg expected, with both meals & beverages and snacks down 4%.
Margins remained pressured. RBC Capital analyst Nik Modi said, "The company is navigating a challenging environment marked by inflation-driven margin headwinds and tariff impacts, which compressed adjusted gross margins by -240 bps points."
Campbell's still expects full-year adjusted EPS of $2.15 to $2.25, versus the Bloomberg Consensus of $2.17, and organic net sales to fall 1% to 2%, versus the estimate of -2.14%.
Notice how Campbell shares were crushed in the era of food inflation.
After the earnings release, Campbell's held an analyst call.
David Palmer, senior managing director and head of restaurant and food producers at Evercore ISI, asked Campbell's CEO Mick Beekhuizen about trends surrounding the snack-related portfolio:
Obviously, heading into fiscal '27, you're going to be dealing with the inflation you talked about, and the choices you're making around snacks and those things will be cause for noise and varying degrees of sales or profit pressure. But I'm wondering if you're just thinking about your core businesses and the goal of returning those to at least some modest growth, profitable growth. Where do you think are the near and medium-term potential wins, most improved areas that we'll see from organic sales perspective? And then I have a quick follow-up.
Beekhuizen's response revealed one very important trend: he expects at-home cooking to remain resilient in the back half of the year.
His response:
Sure. even if you look at this quarter, I'll highlight a couple of areas, and I appreciate you asking the question because there are very clear proof points in this quarter that we can continue to support. Within the meals & beverage portfolio, the at-home cooking consumer trend is resilient, and we expect that trend to continue. And that is a big part of our meals & beverage portfolio plays right into that consumer trend.
The at-home cooking comment piqued our interest because it dovetails with a recent UBS note from analyst Dennis Geiger, the bank's U.S. restaurants equity research analyst, who expects restaurant spending to remain in a "difficult cycle" through the second half of the year. That only lends credibility to Beekhuizen's view that consumers are likely to continue leaning into home meals as mounting macro pressures weigh on discretionary dining.
Tyler Durden Mon, 06/08/2026 - 17:20Authored by Atharva Gosavi via Interesting Engineering,
US Army scientists have demonstrated a new quantum sensor that can measure the full 3D direction of radio-frequency electromagnetic fields, a milestone that could reshape how signals are detected on the battlefield.
The rubidium vapor cell.US ArmyThe breakthrough was achieved by scientists at the U.S. Army Combat Capabilities Development Command, known as DEVCOM, Army Research Laboratory.
According to the researchers, the sensor could improve situational awareness, strengthen secure communications, and help soldiers make faster, better-informed decisions in complex battlefield environments.
"Our work in quantum science is about giving our Soldiers new ways to sense and understand the world around them," said David Meyer, ARL research physicist.
"This research opens the door to detecting and pinpointing signals over a broad frequency range in a single sensing package, even in the most challenging environments,"
Measuring Radio Waves in 3DThe new sensor is based on Rydberg atoms, which are atoms placed in a highly excited state that makes them extremely sensitive to electric fields.
The researchers described how the device can determine not only electromagnetic field strength but also the 3D polarization orientation and propagation direction, known as the k-vector.
According to ARL, this is the first time such a measurement has been achieved using a quantum sensor.
Traditional sensors usually measure the strength of an electromagnetic field in only one direction at a time. The ARL-developed quantum sensor, however, can "see" both the direction and motion of the electromagnetic field, providing a complete 3D picture.
Despite being only a few centimeters across, the sensor can determine the direction of incoming signals with an accuracy of about two degrees.
This could make it a highly flexible platform for detecting and locating radio-frequency signals in contested environments.
A Tiny Sensor for a Crowded SpectrumUnlike conventional antennas, which often need to be physically comparable in size to the signals they detect and are typically limited to narrow frequency ranges, ARL's sensor is independent of signal size. It can also operate across the entire radio-frequency spectrum.
This capability comes from the broadband nature of Rydberg atoms, which can operate from direct current to terahertz frequencies.
"The modern battlefield is an extremely complicated radio frequency environment," Meyer said.
"With the proliferation of autonomous systems, there can be hundreds of distinct signal sources. Having a single sensor platform that covers the entire radio-frequency spectrum and can measure the 3D direction of those fields represents a potentially transformative capability, especially in spectrum awareness," he continued.
Building on Years of Quantum ResearchThe sensor works by using a tiny glass cell filled with rubidium atom vapor. Researchers shine lasers through the cell to put the atoms into Rydberg states.
When a radio wave passes through, the atoms respond in a way that reveals the field's strength, direction, and movement in three dimensions.
The latest work builds on ARL's earlier development of the Rydberg electrometer. In 2024, the team demonstrated its ability to measure radio-frequency field polarization and decode information encoded in that polarization.
The research was published in a paper called Physical Review Applied.
Tyler Durden Mon, 06/08/2026 - 17:00From inside a federal prison cell, disgraced crypto mogul Sam Bankman-Fried is making a direct bid for a White House lifeline. In a phone interview with FOX Business, the former FTX founder said he "absolutely" wants a presidential pardon from President Donald Trump.
"Absolutely. It would be obviously, you know, ultimately up to the president, not up to me," he said.
Bankman-Fried declined to confirm whether his family is currently lobbying the administration on his behalf, saying only, "I can't speak for them."
In March 2024, Bankman-Fried was sentenced to 25 years in prison after being convicted on two counts of wire fraud and five counts of conspiracy. The court found that the November 2022 collapse of his crypto empire resulted in approximately $8 billion in losses for FTX customers, $1.7 billion for equity investors, and $1.3 billion for lenders to Alameda Research.
Key Development Today: Bankman-Fried has formally submitted a presidential pardon application through the Department of Justice's Office of the Pardon Attorney.
Bankman-Fried Defends His CaseDespite his conviction, Bankman-Fried continued to argue that the prosecution was unjust, citing the recovery in cryptocurrency markets that has allowed the bankruptcy estate to repay customers more than they originally lost.
"I didn't steal user funds either. Customers have been repaid now 170% or so on their deposits. It's one of the very few cases where the platform was over-collateralized, where customers were more than made whole. And yet there was, you know, not just a criminal investigation, but a prosecution. And, you know, dozens of years of sentence[s]." -SBFHe added that it is "a great disservice" to customers that it has taken three years for them to be repaid nearly twice what they had on the platform.
Regrets Missing the AI Boom, Praises MuskWhen asked about his fear of missing out on major technological developments, SBF expressed frustration at being unable to participate from prison.
"It's a concern I have. You know, there's a lot that I did try and position... I'd certainly much rather be, you know, able to help that out from the outside than in here where there's very little I can do."He then praised Elon Musk and SpaceX, saying the company has "extremely large potential" and noting parallels with how few companies are positioned to play a major role in the space industry.
Today's interview is the latest in a months-long effort by Bankman-Fried to secure clemency. He has posted pro-Trump messages via prison-approved proxies and his parents have previously explored clemency options with lawyers connected to the Trump orbit.
For example, back in March...
The current spike only highlights how much oil prices have lowered under @realDonaldTrump.
🛢️:
Trump (2017-2020): $58
Biden (2021-2024): $83
Trump (2025): $68
Average price over the whole of 2022: $99
Price yesterday: $100
Calm down.
While President Trump has granted clemency to other crypto figures, including Binance's Changpeng Zhao, he previously told The New York Times he does not plan to pardon Bankman-Fried. Some members of Congress and voices in the crypto industry have urged him to deny the request.
Tyler Durden Mon, 06/08/2026 - 16:40