Key Developments: Procter & Gamble Co (PG)
78.80USD
21 May 2013
$-0.29 (-0.37%)
$80.02
$79.17
$79.22
$78.22
7,377,650
8,856,981
$82.54
$59.07
Latest Key Developments (Source: Significant Developments)
Procter & Gamble Co Files Infringement Lawsuit against CAO Group, Inc
Procter & Gamble Co announced it has filed a lawsuit on May 20, 2013 in the Southern District of Ohio against CAO Group, Inc., a manufacturer and distributor of dental products. The lawsuit alleges that CAO Group is violating P&G's intellectual property by manufacturing and selling its Sheer White, Sheer FluorX, and Sheer DesenZ products. The unauthorized use of patented technology is prohibited by law. P&G is suing CAO Group in order to protect its investment in its technology and its Crest Whitestrips business. Full Article
Procter & Gamble Co Reaffirms FY 2013 Revenue Guidance; Raises Low End Of Prior FY 2013 EPS Guidance; Comments On Q4 2013 Revenue Guidance; Issues Q4 2013 EPS Guidance Below Analysts' Estimates
Procter & Gamble Co announced that it is maintaining its organic sales growth guidance of 3% to 4% for fiscal 2013. Foreign exchange is expected to reduce sales growth by 2%, resulting in guidance for all-in net sales growth of 1% to 2% versus the prior year. The Company is increasing the low end of the range of core earnings per share guidance for fiscal 2013 by $0.02 to $3.96 to $4.04, behind strong productivity improvement and resulting cost savings. All-in earnings per share are expected to be in the range of $3.90 to $3.98. The Company also announced that is estimating organic sales growth in the range of 3% to 4% for the fourth quarter of 2013. The Company expects fourth quarter 2013 core EPS in the range of $0.69 to $0.77. On an all-in basis, P&G is forecasting diluted net earnings per share in the range of $0.67 to $0.75. The all-in EPS guidance includes non-core restructuring charges of $0.02 per share. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $84.645 billion for fiscal 2013; and revenue of $20.966 billion and EPS of $0.81 for the fourth quarter of 2013. Full Article
Procter & Gamble Co Declares 7% Dividend Increase
Procter & Gamble Co announced that Board of Directors declared an increase in the quarterly dividend from $0.562 to $0.6015 per share on Common Stock and on the Series A and Series B ESOP Convertible Class A Preferred Stock of the Company, payable on or after May 15, 2013 to Common Stock shareholders of record at the close of business on April 26, 2013, and to Series A and Series B Preferred Stock shareholders of record at the start of business on April 26, 2013. This represents a 7% increase compared to the prior quarterly dividend. Full Article
Procter & Gamble Co Lowers Q3, FY 2013 EPS Guidance
Procter & Gamble Co announced that for fiscal 2013, it expects on an all-in GAAP basis, reduced its earnings per share (EPS) guidance to a range of $3.92 to $4.04 from its prior outlook of $4.04 to $4.14 per share. For the third quarter of 2013, it expects on an all-in basis, reduced it earnings per share (EPS) outlook to a range of $0.80 to $0.88 from its prior guidance range of $0.90 to $0.96. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $4.07 for fiscal 2013; EPS of $0.96 for third quarter of 2013. Full Article
Procter & Gamble Co And Verix Business Intelligence Announce Initiation Of Strategic Partnership
Procter & Gamble Co has formally-initiated a strategic partnership with Verix Business Intelligence, a start-up technology company that specializes in intelligent business alerts and pre-packaged analytical applications. The terms and conditions of this partnership are not being released. Full Article
Procter & Gamble Co Announces Increase In Share Repurchase
Procter & Gamble Co announced that it increased its outlook for share repurchase to $5 to $6 billion, up from a prior range of $4 to $6 billion. Full Article
Procter & Gamble Co Raises FY 2013 Guidance; Issues Q3 2013 EPS Guidance In Line With Analysts' Estimates; Comments On Q3 2013 Revenue Guidance
Procter & Gamble Co announced that for fiscal 2013, the Company raised core earnings per share (EPS) guidance to $3.97-$4.07, up 3% to up 6% compared to prior year core EPS of $3.85, behind strong productivity improvement and resulting cost savings. The Company also raised its all-in GAAP earnings per share guidance to a range of $4.04 to $4.14, equating to growth of 10% to 13% versus prior year GAAP EPS of $3.66. The Company is increasing its organic sales growth guidance to a range of 3% to 4% for the fiscal 2013 from a previous range of 2% to 4%. Foreign exchange is expected to reduce sales growth by 2%, resulting in guidance for all-in net sales growth of up 1% to 2% versus the prior year. For third quarter of 2013, it expects net and organic sales growth in the range of 3%-4%. The Company expects EPS in the range of $0.91 to $0.97, down 3% to up 3% compared to prior year core EPS of $0.94. On an all-in basis, P&G is forecasting earnings per share (EPS) in the range of $0.90 to $0.96, an increase of 10% to 17% versus prior year diluted EPS of $0.82. The Company reported revenue of $83.7 billion in fiscal 2012. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $3.97 on revenue of $84.3 billion for fiscal 2013; revenue of $20.65 billion and EPS of $0.95 for third quarter of 2013. Full Article
Procter & Gamble Co To Lay Off 150 In Spain And Portugal-Reuters
Reuters reported that Procter & Gamble Co is cutting around 150 jobs in Spain and Portugal following the decision to integrate hygiene company Arbora & Ausonia (A&A) into its existing operations. P&G has already said it would lay off thousands of workers worldwide in a cost-cutting plan designed to reinvigorate its performance. Full Article
Procter & Gamble Co Declares Quarterly Dividend
Procter & Gamble Co announced that it has declared a quarterly dividend of $0.562 per share on the Common Stock and on the Series A and Series B ESOP Convertible Class A Preferred Stock of the Company, payable on or after February 15, 2013, to Common Stock shareholders of record at the close of business on January 18, 2013, and to Series A and Series B Preferred Stock shareholders of record at the start of business on January 18, 2013. Full Article
OBJ Ltd Updates On Joint Development Agreement With Procter & Gamble Company
OBJ Ltd announced that Procter & Gamble Company has committed to two separate human clinical trials following pre-clinical developments conducted as part of the exclusive multi-product Joint Development Agreement (JDA) with the Company as announced on May 18, 2012. The Company has been focused on the development and testing of new magnetic microarrays that produce performance enhancement for two proprietary molecules used by Procter & Gamble Company across a number of its products. Full Article
Beiersdorf shares rise on P&G bid speculation
FRANKFURT, May 16 - Shares in Nivea-maker Beiersdorf rose on Thursday on market speculation that majority shareholder Maxingvest was selling half of its stake to U.S. rival Procter & Gamble, talk that was dismissed by a source close to the shareholder.
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