Campbell Soup shares slide 5% on lower outlook

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SAN FRANCISCO (MarketWatch) -- Campbell Soup Co. shares fell as much as 5% at the open Friday after the company posted lower second-quarter earnings and trimmed its outlook for fiscal 2011. The company, citing tough competition and lower sales revenue despite a drive to heavily promote its brands, said it now expects full-year per-share earnings to drop 1% to 3%. In November, the company forecast a 2% to 4% rise in per-share results for fiscal 2011. Campbell Soup shares were last down 5.2% at $33.12. The stock is down 2% over the past 12 months.

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