New Zillow CEO could make the home-flipping ‘gamble work’: RBC’s Mahaney

Co-founder Spencer Rascoff stepped down as Zillow chief Thursday after nearly a decade in the chair. Shares of Zillow have taken several dives since the company first said it was exploring a house-flipping program. By leveraging its own data, Zillow would give home sellers access to its online platform to compare offers from potential buyers, including Zillow. Zillow hopes its process will provide a service to house sellers and cut down the time and difficulty of selling their home. “If anybody


Co-founder Spencer Rascoff stepped down as Zillow chief Thursday after nearly a decade in the chair. Shares of Zillow have taken several dives since the company first said it was exploring a house-flipping program. By leveraging its own data, Zillow would give home sellers access to its online platform to compare offers from potential buyers, including Zillow. Zillow hopes its process will provide a service to house sellers and cut down the time and difficulty of selling their home. “If anybody
New Zillow CEO could make the home-flipping ‘gamble work’: RBC’s Mahaney Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: tyler clifford
Keywords: news, cnbc, companies, rbcs, mahaney, selling, barton, zillows, zillow, ceo, track, homeflipping, sellers, stock, company, work, gamble, big


New Zillow CEO could make the home-flipping 'gamble work': RBC's Mahaney

Zillow wants to get into the home-flipping process, a big bold bet, says analyst 3 Hours Ago | 04:22

If anyone can pull off Zillow’s plan to start buying and selling homes, returning CEO Rich Barton is the one to get the job done, said RBC Capital Markets’ internet analyst Mark Mahaney.

Mahaney told CNBC on Friday that Barton, who co-founded the online real estate marketplace in 2005 and led it until 2010, has a “great track record” with Expedia. Co-founder Spencer Rascoff stepped down as Zillow chief Thursday after nearly a decade in the chair.

“This guy’s got a huge track record, and when the news came out that he was coming back to be the CEO that’s what really took the stock up,” he said on “Squawk Alley.”

Barton, a serial entrepreneur, started Expedia under Microsoft in 1994, spun it into its own public company in 1999 and led it until 2003. He was also behind the launch of employment website Glassdoor.

Shares of Zillow have taken several dives since the company first said it was exploring a house-flipping program. The stock sank 9 percent after Zillow announced the endeavor in May, 16 percent in a single day in August, and 8 percent in extended trading off a mixed fourth-quarter earnings report Thursday.

The price subsequently recovered and is up about 7 percent midday Friday.

Zillow has been piloting the flipping business in Phoenix and Las Vegas. Former CEO Rascoff has likened the model to Netflix’s original programming and Amazon’s web services. By leveraging its own data, Zillow would give home sellers access to its online platform to compare offers from potential buyers, including Zillow. If it wins the property, the company plans to complete renovations in 90 days and relist it with one of its premier real estate agents.

Rascoff retains his seat on Zillow’s board.

Investors may be wary of the buying and selling model because it can take months to close on a deal, resulting in delayed revenue. Zillow hopes its process will provide a service to house sellers and cut down the time and difficulty of selling their home.

The company expects the segment to bring in $20 billion in revenue within five years, according to its earnings forecast.

“If anybody can make this gamble work, it’s Rich Barton,” Mahaney said.

Still, he said he’s a bit “skeptical.” He said the firm is not a buyer of the stock at the moment.

“It’s just, it is a big swing, it’s a big risk,” Mahaney said. “I want to see him bring his magic back to the company before we get constructive on the shares.”

The stock is up more than 36 percent this year, but it’s down more than 10 percent over the past year and about 35 percent off its June high.


Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: tyler clifford
Keywords: news, cnbc, companies, rbcs, mahaney, selling, barton, zillows, zillow, ceo, track, homeflipping, sellers, stock, company, work, gamble, big


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New Zillow CEO could make the home-flipping ‘gamble work’: RBC’s Mahaney

Co-founder Spencer Rascoff stepped down as Zillow chief Thursday after nearly a decade in the chair. Shares of Zillow have taken several dives since the company first said it was exploring a house-flipping program. By leveraging its own data, Zillow would give home sellers access to its online platform to compare offers from potential buyers, including Zillow. Zillow hopes its process will provide a service to house sellers and cut down the time and difficulty of selling their home. “If anybody


Co-founder Spencer Rascoff stepped down as Zillow chief Thursday after nearly a decade in the chair. Shares of Zillow have taken several dives since the company first said it was exploring a house-flipping program. By leveraging its own data, Zillow would give home sellers access to its online platform to compare offers from potential buyers, including Zillow. Zillow hopes its process will provide a service to house sellers and cut down the time and difficulty of selling their home. “If anybody
New Zillow CEO could make the home-flipping ‘gamble work’: RBC’s Mahaney Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: tyler clifford
Keywords: news, cnbc, companies, rbcs, mahaney, selling, barton, zillows, zillow, ceo, track, homeflipping, sellers, stock, company, work, gamble, big


New Zillow CEO could make the home-flipping 'gamble work': RBC's Mahaney

Zillow wants to get into the home-flipping process, a big bold bet, says analyst 3 Hours Ago | 04:22

If anyone can pull off Zillow’s plan to start buying and selling homes, returning CEO Rich Barton is the one to get the job done, said RBC Capital Markets’ internet analyst Mark Mahaney.

Mahaney told CNBC on Friday that Barton, who co-founded the online real estate marketplace in 2005 and led it until 2010, has a “great track record” with Expedia. Co-founder Spencer Rascoff stepped down as Zillow chief Thursday after nearly a decade in the chair.

“This guy’s got a huge track record, and when the news came out that he was coming back to be the CEO that’s what really took the stock up,” he said on “Squawk Alley.”

Barton, a serial entrepreneur, started Expedia under Microsoft in 1994, spun it into its own public company in 1999 and led it until 2003. He was also behind the launch of employment website Glassdoor.

Shares of Zillow have taken several dives since the company first said it was exploring a house-flipping program. The stock sank 9 percent after Zillow announced the endeavor in May, 16 percent in a single day in August, and 8 percent in extended trading off a mixed fourth-quarter earnings report Thursday.

The price subsequently recovered and is up about 7 percent midday Friday.

Zillow has been piloting the flipping business in Phoenix and Las Vegas. Former CEO Rascoff has likened the model to Netflix’s original programming and Amazon’s web services. By leveraging its own data, Zillow would give home sellers access to its online platform to compare offers from potential buyers, including Zillow. If it wins the property, the company plans to complete renovations in 90 days and relist it with one of its premier real estate agents.

Rascoff retains his seat on Zillow’s board.

Investors may be wary of the buying and selling model because it can take months to close on a deal, resulting in delayed revenue. Zillow hopes its process will provide a service to house sellers and cut down the time and difficulty of selling their home.

The company expects the segment to bring in $20 billion in revenue within five years, according to its earnings forecast.

“If anybody can make this gamble work, it’s Rich Barton,” Mahaney said.

Still, he said he’s a bit “skeptical.” He said the firm is not a buyer of the stock at the moment.

“It’s just, it is a big swing, it’s a big risk,” Mahaney said. “I want to see him bring his magic back to the company before we get constructive on the shares.”

The stock is up more than 36 percent this year, but it’s down more than 10 percent over the past year and about 35 percent off its June high.


Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: tyler clifford
Keywords: news, cnbc, companies, rbcs, mahaney, selling, barton, zillows, zillow, ceo, track, homeflipping, sellers, stock, company, work, gamble, big


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Egypt’s President Sisi pushes toward term extensions in constitution

Egyptian lawmakers are pushing ahead for a change to the country’s constitution that would enable Sisi to stay in power until 2034. Currently, the former armed forces chief is due to stand down after completing two four-year terms in 2022. “I am with preserving two four-year terms and not to change it … I am not for any amendments to be made to the constitution in this period,” Sisi told CNBC’s Gamble. I am talking about the four-year terms.


Egyptian lawmakers are pushing ahead for a change to the country’s constitution that would enable Sisi to stay in power until 2034. Currently, the former armed forces chief is due to stand down after completing two four-year terms in 2022. “I am with preserving two four-year terms and not to change it … I am not for any amendments to be made to the constitution in this period,” Sisi told CNBC’s Gamble. I am talking about the four-year terms.
Egypt’s President Sisi pushes toward term extensions in constitution Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: natasha turak, mohamed el-shahed, afp, getty images
Keywords: news, cnbc, companies, amendments, gamble, told, term, sisi, right, pushes, extensions, egypts, terms, power, president, fouryear, constitution


Egypt's President Sisi pushes toward term extensions in constitution

Egypt’s President Abdel Fattah el-Sisi is likely to win constitutional changes allowing him to dramatically extend his tenure in power — just over a year after telling CNBC that he would never pursue such a thing.

Discussing the political developments while at the Milken Summit in Abu Dhabi Tuesday, Egyptian billionaire businessman Naguib Sawiris told CNBC’s Hadley Gamble that he expected the controversial move would be pushed through. Asked whether he believed it was the right or wrong step for Egypt, the country’s second-richest man simply replied, “We’ll see.”

Egyptian lawmakers are pushing ahead for a change to the country’s constitution that would enable Sisi to stay in power until 2034. Currently, the former armed forces chief is due to stand down after completing two four-year terms in 2022.

Just last week, a parliamentary committee in Cairo approved proposed constitutional amendments that would increase presidential terms from four to six years and essentially reset the clock, allowing Sisi two additional terms.

In an exclusive interview with CNBC in November 2017, Sisi said he was committed to the limits set out by the current constitution.

“I am with preserving two four-year terms and not to change it … I am not for any amendments to be made to the constitution in this period,” Sisi told CNBC’s Gamble. “The constitution grants the right of the parliament and the president to request amendments. I am talking about the four-year terms. We will not interfere with it.”


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: natasha turak, mohamed el-shahed, afp, getty images
Keywords: news, cnbc, companies, amendments, gamble, told, term, sisi, right, pushes, extensions, egypts, terms, power, president, fouryear, constitution


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Procter & Gamble isn’t seeing a slowdown in China

Apple and McDonald’s are seeing sales in China soften because of the country’s slowing economy, but that’s not the case for Procter & Gamble. “We do not see a slowdown in China as witnessed by those results,” CFO Jon Moeller said Wednesday on a conference call with analysts. The company’s organic sales in the country grew by 15 percent during its second quarter. Organic sales exclude the impact of foreign currency exchange and mergers and acquisitions. The company saw the business grow 12 percen


Apple and McDonald’s are seeing sales in China soften because of the country’s slowing economy, but that’s not the case for Procter & Gamble. “We do not see a slowdown in China as witnessed by those results,” CFO Jon Moeller said Wednesday on a conference call with analysts. The company’s organic sales in the country grew by 15 percent during its second quarter. Organic sales exclude the impact of foreign currency exchange and mergers and acquisitions. The company saw the business grow 12 percen
Procter & Gamble isn’t seeing a slowdown in China Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-23  Authors: amelia lucas, zhang peng, lightrocket, getty images
Keywords: news, cnbc, companies, second, share, slowdown, organic, quarter, isnt, procter, gamble, seeing, china, sales, reported, results, company


Procter & Gamble isn't seeing a slowdown in China

Apple and McDonald’s are seeing sales in China soften because of the country’s slowing economy, but that’s not the case for Procter & Gamble.

“We do not see a slowdown in China as witnessed by those results,” CFO Jon Moeller said Wednesday on a conference call with analysts.

The company’s organic sales in the country grew by 15 percent during its second quarter. Organic sales exclude the impact of foreign currency exchange and mergers and acquisitions.

Moeller added that the company has seen both successes and challenges in the country. Take diapers, for example. It became the number one diaper brand on JD.com and Alibaba, China’s biggest e-commerce sites, this quarter. The company saw the business grow 12 percent in China during its fiscal second quarter, after declining by double digits last quarter.

Moeller said that the company is “fairly confident” about growth in China during the second half of the fiscal year.

Procter & Gamble’s stock rose Wednesday after it reported strong second-quarter results. After excluding restructuring costs and other items, the company earned $1.25 per share, beating Refinitiv estimates of $1.21 per share. It reported $17.44 billion in revenue for the quarter, beating Wall Street’s expectations of $17.15 billion. The Cincinnati-based company also raised its outlook for organic sales to a range of 2 to 4 percent.

Tune into CNBC Thursday at 10 a.m. ET to see Sara Eisen’s interview with Procter & Gamble CEO David Taylor at Davos.


Company: cnbc, Activity: cnbc, Date: 2019-01-23  Authors: amelia lucas, zhang peng, lightrocket, getty images
Keywords: news, cnbc, companies, second, share, slowdown, organic, quarter, isnt, procter, gamble, seeing, china, sales, reported, results, company


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Cramer reveals some of his favorite Dow stocks for 2019

The Dow’s top five stocks for the end of 2018 were a defensive group: consumer products giant Procter & Gamble, drugmaker Merck, fast-food chain McDonald’s, telecommunications play Verizon and soft-drink maker Coca-Cola. “Classic slowdown stock” Procter & Gamble took first place with a 10 percent gain, a troubling sign for those who are worried about U.S. economic growth, Cramer said. “This is exactly the kind of stock you want to own if you’re concerned about a slowing economy,” Cramer said. “P


The Dow’s top five stocks for the end of 2018 were a defensive group: consumer products giant Procter & Gamble, drugmaker Merck, fast-food chain McDonald’s, telecommunications play Verizon and soft-drink maker Coca-Cola. “Classic slowdown stock” Procter & Gamble took first place with a 10 percent gain, a troubling sign for those who are worried about U.S. economic growth, Cramer said. “This is exactly the kind of stock you want to own if you’re concerned about a slowing economy,” Cramer said. “P
Cramer reveals some of his favorite Dow stocks for 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-04  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, procter, gamble, noting, favorite, reveals, stock, 2019, verizon, cramer, slowdown, stocks, merck, mcdonalds, yield, dow


Cramer reveals some of his favorite Dow stocks for 2019

The Dow’s top five stocks for the end of 2018 were a defensive group: consumer products giant Procter & Gamble, drugmaker Merck, fast-food chain McDonald’s, telecommunications play Verizon and soft-drink maker Coca-Cola.

“Classic slowdown stock” Procter & Gamble took first place with a 10 percent gain, a troubling sign for those who are worried about U.S. economic growth, Cramer said.

“When Procter’s the best performer, you know something’s wrong with that economy,” he said, acknowledging that the Bounty parent is still a “high-quality company” and has benefited from lower raw costs and higher market share.

“This is exactly the kind of stock you want to own if you’re concerned about a slowing economy,” Cramer said.

Cramer also blessed buying shares of runner-up Merck, the drugmaker behind leading anti-cancer treatment Keytruda. He noted that Bristol-Myers’ massive deal to buy Celgene speaks to the power Merck wields over its competitors.

“They never would’ve done something so radical if Merck weren’t winning some head-to-head trials against them,” he said. “Plus, Merck sports a 2.9 percent yield here, it’s got a rock-solid balance sheet, and, just like Procter & Gamble, it’s a fabulous slowdown stock. You have my blessing to still buy this into weakness.”

Cramer liked McDonald’s, noting that its stock also tends to thrive during slowdowns. He dubbed the stock of Verizon, which sports a 4.3 percent dividend yield and has no exposure to the Chinese markets, an outright “buy.”

Coca-Cola, the only other Dow stock that rallied in the final months of 2018, “is practically the perfect stock for this environment,” Cramer added, noting that it looks cheap considering its 3.3 percent yield and accelerating growth.


Company: cnbc, Activity: cnbc, Date: 2019-01-04  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, procter, gamble, noting, favorite, reveals, stock, 2019, verizon, cramer, slowdown, stocks, merck, mcdonalds, yield, dow


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Brexit explained: The UK’s big gamble

You’ve been hearing about it for 3 years. Wasn’t there a vote? Why do people get so worked up about it? If you don’t understand Brexit, here’s your chance to catch up. Watch the video above to learn about the history of the United Kingdom’s relationship with the European Union and what’s at stake in the looming divorce.


You’ve been hearing about it for 3 years. Wasn’t there a vote? Why do people get so worked up about it? If you don’t understand Brexit, here’s your chance to catch up. Watch the video above to learn about the history of the United Kingdom’s relationship with the European Union and what’s at stake in the looming divorce.
Brexit explained: The UK’s big gamble Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-24  Authors: jordan malter, kate sprague
Keywords: news, cnbc, companies, upwatch, united, stand, video, whats, explained, uks, union, understand, gamble, worked, vote, big, brexit, wasnt


Brexit explained: The UK's big gamble

Brexit.

You’ve been hearing about it for 3 years. And it’s still going. Wasn’t there a vote? Why do people get so worked up about it? Where does it stand and what comes next?

If you don’t understand Brexit, here’s your chance to catch up.

Watch the video above to learn about the history of the United Kingdom’s relationship with the European Union and what’s at stake in the looming divorce.


Company: cnbc, Activity: cnbc, Date: 2018-12-24  Authors: jordan malter, kate sprague
Keywords: news, cnbc, companies, upwatch, united, stand, video, whats, explained, uks, union, understand, gamble, worked, vote, big, brexit, wasnt


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Brexit explained: The UK’s big gamble

Brexit explained: 3.3 million jobs, EU immigration, the Irish border and everything else about the UK’s big gamble7 Hours AgoYou’ve been hearing about it for 3 years. Wasn’t there a vote? Why do people get so worked up about it? Where does it stand and what comes next? If you don’t understand Brexit, here’s your chance to catch up.


Brexit explained: 3.3 million jobs, EU immigration, the Irish border and everything else about the UK’s big gamble7 Hours AgoYou’ve been hearing about it for 3 years. Wasn’t there a vote? Why do people get so worked up about it? Where does it stand and what comes next? If you don’t understand Brexit, here’s your chance to catch up.
Brexit explained: The UK’s big gamble Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-23
Keywords: news, cnbc, companies, vote, wasnt, uks, explained, jobs, big, understand, irish, brexit, gamble, stand, million, worked


Brexit explained: The UK’s big gamble

Brexit explained: 3.3 million jobs, EU immigration, the Irish border and everything else about the UK’s big gamble

7 Hours Ago

You’ve been hearing about it for 3 years. And it’s still going. Wasn’t there a vote? Why do people get so worked up about it? Where does it stand and what comes next? If you don’t understand Brexit, here’s your chance to catch up.


Company: cnbc, Activity: cnbc, Date: 2018-12-23
Keywords: news, cnbc, companies, vote, wasnt, uks, explained, jobs, big, understand, irish, brexit, gamble, stand, million, worked


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Let Apple’s stock ‘settle down’ before you start buying, Cramer says

Apple’s management may have botched the way it announced a change to its earnings reporting, but investors shouldn’t give up on the company’s stock, CNBC’s Jim Cramer said Friday. In the announcement, the iPhone maker said it would stop breaking down the sales results for its individual products. “My advice now is to let this stock settle down. Then, if you don’t own it, I’d start buying it,” the “Mad Money” host and longtime Apple bull advised. Wall Street analysts took issue with Apple’s decis


Apple’s management may have botched the way it announced a change to its earnings reporting, but investors shouldn’t give up on the company’s stock, CNBC’s Jim Cramer said Friday. In the announcement, the iPhone maker said it would stop breaking down the sales results for its individual products. “My advice now is to let this stock settle down. Then, if you don’t own it, I’d start buying it,” the “Mad Money” host and longtime Apple bull advised. Wall Street analysts took issue with Apple’s decis
Let Apple’s stock ‘settle down’ before you start buying, Cramer says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-02  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, results, dont, cramer, start, individual, stock, stop, settle, apples, decision, procter, product, apple, let, buying, gamble


Let Apple's stock 'settle down' before you start buying, Cramer says

Apple’s management may have botched the way it announced a change to its earnings reporting, but investors shouldn’t give up on the company’s stock, CNBC’s Jim Cramer said Friday.

In the announcement, the iPhone maker said it would stop breaking down the sales results for its individual products.

“My advice now is to let this stock settle down. Give the sellers who don’t believe [CEO] Tim Cook’s explanation a couple more days to get out. Then, if you don’t own it, I’d start buying it,” the “Mad Money” host and longtime Apple bull advised. “Remember, Apple has the world’s biggest buyback and next week I bet you they will be in there repurchasing this stock right alongside you.”

Shares of Apple slid 6.63 percent on Friday after falling in Thursday’s after-hours trading. Wall Street analysts took issue with Apple’s decision to stop issuing individual product results and the company’s muted forecast, which was tied to timing issues related to its new iPhones.

But Cramer said he didn’t blame Apple for its decision to stop breaking down its product results and reiterated his call to value the Cupertino-based giant as a consumer products company rather than a technology hardware provider.

“As I told you earlier, I still believe you should own Apple, not trade it,” he said. “I regard Apple as the greatest consumer packaged goods play on earth — like a better version of Procter & Gamble — and you don’t see Procter & Gamble giving you the number of Gillette razors it sells every quarter.”


Company: cnbc, Activity: cnbc, Date: 2018-11-02  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, results, dont, cramer, start, individual, stock, stop, settle, apples, decision, procter, product, apple, let, buying, gamble


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Procter & Gamble shares jump on earnings beat as beauty business boosts sales

Procter & Gamble shares jumped Friday after the company said beauty sales helped propel higher-than-expected revenue growth during the latest quarter. Sales of $16.69 billion were slightly more that $16.65 billion a year ago and ahead of the $16.46 billion expected by analysts. P&G said beauty net sales rose 5 percent during the latest quarter, while sales in its fabric and home-care division — P&G’s largest unit by sales — climbed 2 percent. P&G said it’s anticipating organic sales growth of 2


Procter & Gamble shares jumped Friday after the company said beauty sales helped propel higher-than-expected revenue growth during the latest quarter. Sales of $16.69 billion were slightly more that $16.65 billion a year ago and ahead of the $16.46 billion expected by analysts. P&G said beauty net sales rose 5 percent during the latest quarter, while sales in its fabric and home-care division — P&G’s largest unit by sales — climbed 2 percent. P&G said it’s anticipating organic sales growth of 2
Procter & Gamble shares jump on earnings beat as beauty business boosts sales Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: lauren thomas, laura galligan
Keywords: news, cnbc, companies, procter, jump, gamble, growth, beauty, cents, share, sales, business, shares, boosts, revenue, quarter, earnings, billion, analysts, beat


Procter & Gamble shares jump on earnings beat as beauty business boosts sales

Procter & Gamble shares jumped Friday after the company said beauty sales helped propel higher-than-expected revenue growth during the latest quarter. It also maintained its profit outlook for the full year.

Its stock climbed more than 7 percent in trading Friday. As of Thursday’s close, its shares had fallen about 11 percent this year, bringing P&G’s market cap to roughly $202 billion.

Here’s what P&G reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

* Earnings per share: $1.12, adjusted, vs. $1.09 expected

* Revenue: $16.69 billion vs. $16.46 billion expected

“This keeps us on track to deliver our top-and bottom-line targets for the fiscal year,” CEO David Taylor said in a statement.

Net income for the quarter ended Sept. 30 climbed about 12 percent to $3.20 billion, or $1.22 cents per share, from $2.85 billion, or $1.06 cents a share, a year ago. Excluding one-time items, P&G earned $1.12 cents a share, 3 cents ahead of analysts’ consensus.

Sales of $16.69 billion were slightly more that $16.65 billion a year ago and ahead of the $16.46 billion expected by analysts. It reported organic sales growth, which strips out the impact of currency and other adjustments, of 4 percent, better than expectations for an increase of 1.6 percent and fueled by growth in its beauty division. The company owns major brands in this category, including Pantene shampoo and Old Spice deodorant.

“There isn’t a piece of beauty that isn’t growing right now,” CFO Jon Moeller said on the company’s earnings call.

P&G said beauty net sales rose 5 percent during the latest quarter, while sales in its fabric and home-care division — P&G’s largest unit by sales — climbed 2 percent. That helped offset net sales declines of 1 percent in the grooming category, a drop of 3 percent in health care, and a 3 percent decline in baby, feminine and family care.

The maker of everyday household goods like Tide laundry detergent, Crest toothpaste and Charmin toilet paper has been defending its market share against heightened competition from private-label brands and upstart companies such as Brandless, Harry’s and Dollar Shave Club. Its Gillette razor brand has struggled as new entrants have entered the space and slashed prices.

P&G’s profit margins have also been squeezed, hurt by rising commodity costs, shipping expenses and foreign exchange rates. Moeller told analysts that P&G will need to raise prices in the coming quarters to offset these cost pressures.

“These are costs retailers understand. They face the same issues,” he said.

During an appearance on CNBC’s “Squawk Box” on Friday, Moeller said, “We expect the revenue progress we are making and the bottom-line progress to hold up. There is a very strong underlying economy and we are seeing — despite some of that angst that exists — increases in the rate of market growth, which you expect with the unemployment situation and eventually the wage situation increasingly significantly.”

P&G said it’s anticipating organic sales growth of 2 to 3 percent for fiscal 2019. It expects core earnings per share to rise 3 to 8 percent, up from 2018 core earnings per share of $4.22.


Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: lauren thomas, laura galligan
Keywords: news, cnbc, companies, procter, jump, gamble, growth, beauty, cents, share, sales, business, shares, boosts, revenue, quarter, earnings, billion, analysts, beat


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Dow rises more than 100 points as Procter & Gamble surges on earnings

The 30-stock index climbed 109 points, led by a 7.8 percent surge in Procter & Gamble shares. The stock surged after Procter posted better-than-expected earnings. American Express, PayPal and Skechers all posted on Thursday earnings that topped analyst expectations. Their shares rose 3.9 percent, 8.2 percent and 13 percent, respectively. “The underpinnings of the economy are still in place and earnings are still good,” said Quincy Krosby, chief market strategist at Prudential Financial.


The 30-stock index climbed 109 points, led by a 7.8 percent surge in Procter & Gamble shares. The stock surged after Procter posted better-than-expected earnings. American Express, PayPal and Skechers all posted on Thursday earnings that topped analyst expectations. Their shares rose 3.9 percent, 8.2 percent and 13 percent, respectively. “The underpinnings of the economy are still in place and earnings are still good,” said Quincy Krosby, chief market strategist at Prudential Financial.
Dow rises more than 100 points as Procter & Gamble surges on earnings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: fred imbert, brendan mcdermid
Keywords: news, cnbc, companies, procter, surges, earnings, sp, shares, gamble, 100, market, points, posted, rises, reported, strong, rose, dow, topped


Dow rises more than 100 points as Procter & Gamble surges on earnings

Lebenthal says we’re in a rolling bear market right now 2 Hours Ago | 03:33

The Dow Jones Industrial Average rose on Friday on the back of strong earnings from Procter & Gamble as Wall Street tried to regain its footing after a sharp sell-off in the prior session.

The 30-stock index climbed 109 points, led by a 7.8 percent surge in Procter & Gamble shares. The stock surged after Procter posted better-than-expected earnings. The company said it got a boost from strong beauty-product sales.

Honeywell and Schlumberger also reported better-than-forecast profits. American Express, PayPal and Skechers all posted on Thursday earnings that topped analyst expectations. Their shares rose 3.9 percent, 8.2 percent and 13 percent, respectively.

The corporate earnings season is off to a strong start. With more than 15 percent of S&P 500 companies having reported, 83 percent have topped analyst expectations, according to FactSet.

The S&P 500, meanwhile, climbed 0.2 percent as the consumer staples sector outperformed. The Nasdaq Composite fell 0.1 percent, however, giving up a more than 1 percent gain.

“The underpinnings of the economy are still in place and earnings are still good,” said Quincy Krosby, chief market strategist at Prudential Financial. “The market is not going to have an immediate recovery; it tends to bounce.”


Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: fred imbert, brendan mcdermid
Keywords: news, cnbc, companies, procter, surges, earnings, sp, shares, gamble, 100, market, points, posted, rises, reported, strong, rose, dow, topped


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