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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Procter & Gamble is testing 3D printed Gillette razors

“Earlier this year we introduced a range of new razor products and declared that ‘one size’ does not fit all men when it comes to razors,” he said in an online statement. “The Razor Maker pilot furthers our commitment to place power in the hands of consumers,” he added. P&G is competing against newer rivals such as Dollar Shave Club, the subscription company bought by Unilever for a reported $1 billion in 2016. In May 2017, Gillette launched its own on-demand service and earlier this year expand


“Earlier this year we introduced a range of new razor products and declared that ‘one size’ does not fit all men when it comes to razors,” he said in an online statement. “The Razor Maker pilot furthers our commitment to place power in the hands of consumers,” he added. P&G is competing against newer rivals such as Dollar Shave Club, the subscription company bought by Unilever for a reported $1 billion in 2016. In May 2017, Gillette launched its own on-demand service and earlier this year expand
Procter & Gamble is testing 3D printed Gillette razors Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-18  Authors: lucy handley
Keywords: news, cnbc, companies, according, razor, procter, printed, earlier, gillette, 3d, steel, razors, gamble, blades, testing, shave, dollar, club


Procter & Gamble is testing 3D printed Gillette razors

This startup wants to become the Dollar Shave Club of adult diapers 8:59 AM ET Sat, 18 Aug 2018 | 02:09

Gillette has used the slogan “The Best A Man Can Get,” since 1989, and guys now want razors more tailored to their needs, according to P&G’s director for Gillette and Venus North America, Pankaj Bhalla. “Earlier this year we introduced a range of new razor products and declared that ‘one size’ does not fit all men when it comes to razors,” he said in an online statement. “The Razor Maker pilot furthers our commitment to place power in the hands of consumers,” he added.

P&G is competing against newer rivals such as Dollar Shave Club, the subscription company bought by Unilever for a reported $1 billion in 2016. In May 2017, Gillette launched its own on-demand service and earlier this year expanded it so that people can add photos and text to their razor handles.

On Tuesday, P&G was told it is now exempt from the 25 percent U.S. tariff levied on the steel it imports from Japan and Sweden for razor blades, nearly four months after its rival Edgewell Personal Care, which makes Wilkinson Sword and Schick blades, got a similar exemption.

Both manufacturers said they needed to go overseas for steel suppliers, because U.S. producers cannot supply steel of a high enough grade, according to a Reuters report.


Company: cnbc, Activity: cnbc, Date: 2018-10-18  Authors: lucy handley
Keywords: news, cnbc, companies, according, razor, procter, printed, earlier, gillette, 3d, steel, razors, gamble, blades, testing, shave, dollar, club


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Apple will probably lower iPhone prices on Wednesday — here’s why

The iPhone X, which starts at $999 and goes all the way up to $1,149, has helped boost profits for the company, even as iPhone unit sales continue to flatten. Last quarter, the pricier iPhone X helped increase the iPhone’s average selling price (ASP) to $724, which was well above expectations. According to numerous reports, Apple will announce three new iPhones based on the iPhone X design on Wednesday. If Kuo’s pricing predictions hold up, that gives Apple the opportunity to keep growing iPhone


The iPhone X, which starts at $999 and goes all the way up to $1,149, has helped boost profits for the company, even as iPhone unit sales continue to flatten. Last quarter, the pricier iPhone X helped increase the iPhone’s average selling price (ASP) to $724, which was well above expectations. According to numerous reports, Apple will announce three new iPhones based on the iPhone X design on Wednesday. If Kuo’s pricing predictions hold up, that gives Apple the opportunity to keep growing iPhone
Apple will probably lower iPhone prices on Wednesday — here’s why Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-11  Authors: steve kovach
Keywords: news, cnbc, companies, heres, 1000, iphone, prices, lower, apple, profits, iphones, version, price, gamble, probably, model


Apple will probably lower iPhone prices on Wednesday — here's why

Apple made a big bet last year that it could convince you to spend $1,000 or more on a new iPhone. It sounded like a crazy move after people spent 10 years spending $650 or so on a new device, but Apple’s gamble worked.

The iPhone X, which starts at $999 and goes all the way up to $1,149, has helped boost profits for the company, even as iPhone unit sales continue to flatten. Last quarter, the pricier iPhone X helped increase the iPhone’s average selling price (ASP) to $724, which was well above expectations.

It turns out Apple doesn’t necessarily need to sell more phones each year to keep its wild profits flowing. It just needs to create a version that’s worth spending more on.

But things are going to change this year.

According to numerous reports, Apple will announce three new iPhones based on the iPhone X design on Wednesday. That means we’ve seen the last of new iPhone models with a home button and large, chunky borders around the screen, like last year’s iPhone 8. Starting this week, all iPhones will look like the iPhone X for the foreseeable future.

It also means Apple will probbly tweak its pricing scheme to reflect the fact that paying a premium for a futuristic phone no longer makes sense.

According to a June report obtained by MacRumors and written by Ming-Chi Kuo, an analyst at TF International Securities who is almost always accurate with his Apple gadget predictions, the successor to the iPhone X will start between $800 and $900 instead of $1,000. There will also be a larger version of the phone, the so-called iPhone Xs Max, that will start between $900 and $1,000. And the new entry-level model with a cheaper, 6.1-inch LCD screen, will cost between $600 and $700.

If Kuo’s pricing predictions hold up, that gives Apple the opportunity to keep growing iPhone profits through the $1,000 jumbo-sized iPhone X model, while growing overall unit sales through the two cheaper models. A discounted new version of the iPhone X will seem like a steal at $900, compared to its current price. And the LCD model will look especially enticing at $700.

While the gamble last time was that customers would pay more for the X, this time Apple is betting that higher volumes and still-strong margins on the cheaper phones will make up for any decrease in average selling price. Apple’s last gamble paid off, despite skepticism from analysts. This time, everybody will be watching the December earnings report closely to see if the company can pull off another record run.


Company: cnbc, Activity: cnbc, Date: 2018-09-11  Authors: steve kovach
Keywords: news, cnbc, companies, heres, 1000, iphone, prices, lower, apple, profits, iphones, version, price, gamble, probably, model


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Procter and Gamble wants to trademark ‘LOL,’ ‘WTF’ and other millennial-friendly acronyms

Acronyms like these are used across social media and messaging apps and are popular among the hard-to-reach millennial group, one that might be more interested in P&G’s other products such as Old Spice deodorant [really?! I thought that was for old men?] Activist investor Nelson Peltz, who joined P&G’s board in March,told CNBC last September that younger consumers do not want “one-size fits all” brands. “Millennials want these little brands, these local brands that they have an emotional attachm


Acronyms like these are used across social media and messaging apps and are popular among the hard-to-reach millennial group, one that might be more interested in P&G’s other products such as Old Spice deodorant [really?! I thought that was for old men?] Activist investor Nelson Peltz, who joined P&G’s board in March,told CNBC last September that younger consumers do not want “one-size fits all” brands. “Millennials want these little brands, these local brands that they have an emotional attachm
Procter and Gamble wants to trademark ‘LOL,’ ‘WTF’ and other millennial-friendly acronyms Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-23  Authors: lucy handley, michael nagle, bloomberg, getty images, joseph prezioso, ricky carioti, the washington post, alberto e rodriguez
Keywords: news, cnbc, companies, brands, website, lol, used, millennialfriendly, trademark, acronyms, wants, wtf, gamble, procter, pg, threeletter, pgs, younger, old


Procter and Gamble wants to trademark ‘LOL,’ ‘WTF’ and other millennial-friendly acronyms

Acronyms like these are used across social media and messaging apps and are popular among the hard-to-reach millennial group, one that might be more interested in P&G’s other products such as Old Spice deodorant [really?! I thought that was for old men?] or Aussie shampoo.

Millennials are an important potential customer for consumer packaged goods companies. Activist investor Nelson Peltz, who joined P&G’s board in March,told CNBC last September that younger consumers do not want “one-size fits all” brands. “Millennials want these little brands, these local brands that they have an emotional attachment to,” he said.

Along with the three-letter acronyms, P&G has also applied to trademark “Home Made Simple” in the same cleaning categories.

P&G had not responded to CNBC’s request for comment at the time of publication, but a report on industry website Ad Age said the U.S. Patent and Trademark Office has sought clarifications from P&G, which has until January to respond.


Company: cnbc, Activity: cnbc, Date: 2018-08-23  Authors: lucy handley, michael nagle, bloomberg, getty images, joseph prezioso, ricky carioti, the washington post, alberto e rodriguez
Keywords: news, cnbc, companies, brands, website, lol, used, millennialfriendly, trademark, acronyms, wants, wtf, gamble, procter, pg, threeletter, pgs, younger, old


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Cramer’s lightning round: Gamble on Pinnacle Entertainment

I’ll tell you what, look, you’re absolutely right structurally, but we’re going to actually own the rails. I like Norfolk Southern and I like Union Pacific right here, and I like CSX. MGM Resorts International: “No, we’re recommending Pinnacle Entertainment. I’ve been trying to have them on, but I don’t know what the critical breakdown is because I think that is a well-run company.” We are now due and the stock did a spike so I’m gonna have to say take a pass.


I’ll tell you what, look, you’re absolutely right structurally, but we’re going to actually own the rails. I like Norfolk Southern and I like Union Pacific right here, and I like CSX. MGM Resorts International: “No, we’re recommending Pinnacle Entertainment. I’ve been trying to have them on, but I don’t know what the critical breakdown is because I think that is a well-run company.” We are now due and the stock did a spike so I’m gonna have to say take a pass.
Cramer’s lightning round: Gamble on Pinnacle Entertainment Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-15  Authors: amelia lucas
Keywords: news, cnbc, companies, youre, pinnacle, cramers, dont, wrong, theyre, look, lightning, think, know, entertainment, right, trying, round, gamble


Cramer's lightning round: Gamble on Pinnacle Entertainment

Praxair: “Look, the government — they’re trying to figure out how to deal with that anti-trust stuff, so I think that that whole complex of ‘just air’ so to speak is just wrong, so I like all of those in that group.”

Trinity Industries: “Keep looking, don’t pull the trigger. I’ll tell you what, look, you’re absolutely right structurally, but we’re going to actually own the rails. I like Norfolk Southern and I like Union Pacific right here, and I like CSX. You can buy any one of those three.”

MGM Resorts International: “No, we’re recommending Pinnacle Entertainment. We want domestic and we don’t want just concentrated in Vegas. We’ve been saying Pinnacle, we like it for betting too, gambling.

Energy Transfer Partners: “I think you ring the register and be glad that they did some sort of takeover there because that has been a godawful situation.”

Aerovironment: “We like Aerovironment, we think that they’re terrific. I’ve been trying to have them on, but I don’t know what the critical breakdown is because I think that is a well-run company.”

Duluth Holdings: “I like the apparel group very much, but you know what? We are now due and the stock did a spike so I’m gonna have to say take a pass. I like Tapestry.”


Company: cnbc, Activity: cnbc, Date: 2018-08-15  Authors: amelia lucas
Keywords: news, cnbc, companies, youre, pinnacle, cramers, dont, wrong, theyre, look, lightning, think, know, entertainment, right, trying, round, gamble


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Procter & Gamble shares downgraded by UBS because of rising inflation

Procter & Gamble’s profitability will suffer because of rising costs and product pricing pressure, according to UBS. The firm lowered its rating for Procter & Gamble shares to neutral from buy, predicting the company will report earnings below expectations in its next fiscal year. Strycula reaffirmed his $83 price target for Procter & Gamble shares, representing 5 percent upside to Wednesday’s close. The analyst estimates the company will generate fiscal 2019 earnings per share of $4.25 versus t


Procter & Gamble’s profitability will suffer because of rising costs and product pricing pressure, according to UBS. The firm lowered its rating for Procter & Gamble shares to neutral from buy, predicting the company will report earnings below expectations in its next fiscal year. Strycula reaffirmed his $83 price target for Procter & Gamble shares, representing 5 percent upside to Wednesday’s close. The analyst estimates the company will generate fiscal 2019 earnings per share of $4.25 versus t
Procter & Gamble shares downgraded by UBS because of rising inflation Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-19  Authors: tae kim, michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, gamble, underperforming, pg, procter, earnings, ubs, stock, rising, company, price, downgraded, street, shares, inflation


Procter & Gamble shares downgraded by UBS because of rising inflation

Procter & Gamble’s profitability will suffer because of rising costs and product pricing pressure, according to UBS.

The firm lowered its rating for Procter & Gamble shares to neutral from buy, predicting the company will report earnings below expectations in its next fiscal year.

“Near-term we are cautious that P&G is likely to guide FY19 earnings below Consensus … due to higher inflation and ongoing price/trade spend investments,” analyst Steven Strycula said in a note to clients Wednesday. “Longer term, we are hopeful P&G’s $10bn cost plan and new employee incentive plan can reverse trends in underperforming categories but note this path may require P&G to pierce price bubbles where excessive gaps exist.”

The company’s stock is down 0.9 percent Thursday.

Strycula reaffirmed his $83 price target for Procter & Gamble shares, representing 5 percent upside to Wednesday’s close.

“Given current inflation rates and category price battles we recommend investors wait for a cheaper P&G entry point and for Street ests to fall lower,” he said.

The analyst estimates the company will generate fiscal 2019 earnings per share of $4.25 versus the Wall Street consensus of $4.43.

Procter & Gamble shares are underperforming the market this year. The stock declined 14 percent year to date through Wednesday compared with the S&P 500’s 5 percent gain.

The company did not immediately respond to a request for comment.


Company: cnbc, Activity: cnbc, Date: 2018-07-19  Authors: tae kim, michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, gamble, underperforming, pg, procter, earnings, ubs, stock, rising, company, price, downgraded, street, shares, inflation


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Procter & Gamble shares downgraded by Jefferies because of rising commodity costs

Procter & Gamble’s profitability will suffer because of rising commodity costs, according to Jefferies. The firm lowered its rating for Procter & Gamble shares to hold from buy, predicting the company will report earnings below expectations next fiscal year. Grundy lowered his price target to $79 from $83 for Procter & Gamble shares. The analyst noted a price basket of P&G key commodities costs has risen by about 15 percent over the past year. “In addition, competitive dynamics, particularly in


Procter & Gamble’s profitability will suffer because of rising commodity costs, according to Jefferies. The firm lowered its rating for Procter & Gamble shares to hold from buy, predicting the company will report earnings below expectations next fiscal year. Grundy lowered his price target to $79 from $83 for Procter & Gamble shares. The analyst noted a price basket of P&G key commodities costs has risen by about 15 percent over the past year. “In addition, competitive dynamics, particularly in
Procter & Gamble shares downgraded by Jefferies because of rising commodity costs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-09  Authors: tae kim, michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, pricing, jefferies, costs, procter, market, commodity, shares, downgraded, company, gamble, rising, report, target, pg


Procter & Gamble shares downgraded by Jefferies because of rising commodity costs

Procter & Gamble’s profitability will suffer because of rising commodity costs, according to Jefferies.

The firm lowered its rating for Procter & Gamble shares to hold from buy, predicting the company will report earnings below expectations next fiscal year.

Analyst Kevin Grundy cited a number of factors weighing on the consumer product giant, including slowing market growth, emerging market volatility, U.S. retail difficulties, a stronger U.S. dollar and pricing challenges that “should drive estimates lower again at P&G.” His note on Monday was titled “Tide Unlikely to Turn: Downgrade to Hold as Bull Thesis Wanes.”

Grundy lowered his price target to $79 from $83 for Procter & Gamble shares. The new target is roughly even with Friday’s closing price.

The analyst noted a price basket of P&G key commodities costs has risen by about 15 percent over the past year. He said the company doesn’t have the ability to pass through higher costs to consumers.

“Commodities [are] a significant headwind,” he said. “P&G is expected to report its first year of negative pricing in well over a decade as the pricing environment has clearly become more difficult.”

As a result of gross profit margin pressure, Grundy reduced his fiscal year 2019 earnings per share estimate for the company to $4.25 from $4.52 versus the Wall Street consensus of $4.43.

“P&G (as well as other companies in our coverage) does not expect EMs or category growth rates to materially improve in the near-to- intermediate term,” he said. “In addition, competitive dynamics, particularly in P&G’s Baby and Grooming businesses (combined ~30% of global profits) will likely remain difficult.”

Procter & Gamble shares are underperforming the market this year. The stock declined 14 percent year to date through Friday compared with the S&P 500’s 3 percent gain.

The company did not immediately respond to a request for comment.


Company: cnbc, Activity: cnbc, Date: 2018-07-09  Authors: tae kim, michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, pricing, jefferies, costs, procter, market, commodity, shares, downgraded, company, gamble, rising, report, target, pg


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Rodney Williams: From six-figure Procter & Gamble gig to CEO of LISNR

In August 2012, Williams left P&G to work full-time on Lisnr and the first version of the product launched in March 2013. At the end of 2013, facing a cash shortfall, Williams started paying the salaries of his 12-member team with savings he had collected from his time working at P&G. And at the end of 2013, getting into 2014, we had a monetary delay,” Williams tells CNBC Make It. Both Williams and Glick did not take a salary during that time (Ostoich was not yet full time) and Williams’ co-foun


In August 2012, Williams left P&G to work full-time on Lisnr and the first version of the product launched in March 2013. At the end of 2013, facing a cash shortfall, Williams started paying the salaries of his 12-member team with savings he had collected from his time working at P&G. And at the end of 2013, getting into 2014, we had a monetary delay,” Williams tells CNBC Make It. Both Williams and Glick did not take a salary during that time (Ostoich was not yet full time) and Williams’ co-foun
Rodney Williams: From six-figure Procter & Gamble gig to CEO of LISNR Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-06-29  Authors: catherine clifford
Keywords: news, cnbc, companies, company, sixfigure, gig, rodney, knew, going, debt, think, lisnr, paying, savings, ceo, procter, team, delay, gamble, williams


Rodney Williams: From six-figure Procter & Gamble gig to CEO of LISNR

In August 2012, Williams left P&G to work full-time on Lisnr and the first version of the product launched in March 2013.

Lisnr raised $850,000 in seed funding in the summer of 2013 according to public fundraising database Crunchbase, but it barely carried the company to its next round of funding. At the end of 2013, facing a cash shortfall, Williams started paying the salaries of his 12-member team with savings he had collected from his time working at P&G. At the time, he says, he was paying north of $30,000 a month in payroll.

“As a start-up, as a technology company, as an entrepreneur … there comes a point in time where the success that you know is coming is delayed. And sometimes that delay is a monetary delay. And at the end of 2013, getting into 2014, we had a monetary delay,” Williams tells CNBC Make It. “I knew that we had revenue coming in; I knew that we were going to hit milestones, that were going to make this company extremely attractive to series A investors. But I knew there was a three- to four-month gap.”

So Williams stepped up.

“I kind of stayed home that Christmas [2013]. And I emptied the bank account. And I emptied the credit cards. And I just think it’s one of those tales that all entrepreneurs and founders have, where you’re going to go out and believe in this project or company so wholeheartedly that you should risk it all,” he says.

Both Williams and Glick did not take a salary during that time (Ostoich was not yet full time) and Williams’ co-founders paid for other business expenses. “It was a team effort,” Williams says.

As for whether paying the salaries put him in debt? “Definitely. Definitely I was in debt. I was in debt. I had depleted my savings, I depleted my — I didn’t pay myself: I was behind on my bills, I maxed out every credit card that I could,” says Williams. He was “close to 100,000″ dollars in debt, he says.

“And yeah, you know, you took a risk,” he says. “It could have ended up really, really bad, right?”

But Williams had a reason to be hopeful. “I do also remember in those three to four months we actually closed over a half a million dollars worth of contracts, so I knew we were going to get funded. The business was still growing,” says Williams. It’s typical that a big client pays 90 days after a product is delivered, says Williams. “I think all founders, all entrepreneurs go through that. … That’s just a part of believing in something that no one else does.”


Company: cnbc, Activity: cnbc, Date: 2018-06-29  Authors: catherine clifford
Keywords: news, cnbc, companies, company, sixfigure, gig, rodney, knew, going, debt, think, lisnr, paying, savings, ceo, procter, team, delay, gamble, williams


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