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Guidance cut sends Campbell Soup Lower

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Shares of Campbell Soup Company (NYSE:CPB) are falling this morning after the soup maker revised its full year earnings and sales guidance lower. According to the company, sales from continuing operations will expand about 3 percent for fiscal year 2014, compared with the prior forecast of a growth around 4 percent to 5 percent. Moreover, the adjusted EPS was lowered from $2.58 to $2.53 a share for fiscal year 2014. Campbell cited increased competition and declining soup sales for the guidance cut.