Business

P&G About to Shed Half Its Brands

The world's largest consumer products maker said it will cast off more than half its brands around the world during the next year or two, leaving it with about 70 to 80 of its top performers.


Chevron 2Q profit climbs 5.6 percent

SAN RAMON, Calif. (AP) Chevron Corp. on Friday reported earnings that rose by 5.6 percent in its second quarter, and topped analysts' expectations. The San Ramon, California-based company said net income increased to $5.67 billion, or $2.98 per share, from $5.37 billion, or $2.77 per share, in the same quarter a year earlier. The average per-share estimate of analysts surveyed by Zacks ...


Clorox 4Q profit beats Wall St. expectations

OAKLAND, Calif. (AP) Clorox's fiscal fourth-quarter profit declined 7 percent, as foreign currency fluctuations weighed on its sales overseas. Its adjusted profit topped analysts' estimates, while revenue fell a bit short. Shares of the consumer product maker climbed in Friday premarket trading. The Oakland, California-based company said net income fell to $170 million, or $1.29 per share, ...


Hilton 2Q earnings jump 35 pct to $209 million

MCLEAN, Va. (AP) Hilton Worldwide Holdings Inc.'s (HLT) second-quarter earnings rose 35 percent and topped Wall Street expectations. The McLean, Virginia, hotelier said Friday it earned $209 million, or 21 cents per share, in the three months that ended June 30. That compares with earnings of $155 million, or 17 cents per share, in last year's quarter, before the company held its December ...


P&G 4Q profit rises, benefits from lower expenses

CINCINNATI (AP) Procter & Gamble Co.'s fiscal fourth-quarter net income climbed 38 percent, bolstered in part by lower expenses. The world's largest consumer product maker said Friday that net income increased to $2.58 billion, or 89 cents per share, for the three months ended June 30. That compares with $1.88 billion, or 64 cents per share, a year ago. Earnings, adjusted for one-time gains ...


Burger King 2Q profit rises 19 percent

MIAMI (AP) Burger King Worldwide Inc. (BKW) on Friday reported net income that climbed by 19 percent in its second quarter, and topped analysts' expectations. The Miami-based company said profit increased to $75.1 million, or 21 cents per share, from $62.9 million, or 18 cents per share, in the same quarter a year earlier. Earnings, adjusted for one-time gains and costs, came to 25 cents per ...


Why Samsung Shares Plunged in the April-June Quarter

Samsung earned $6.1 billion last quarter but investors were dissatisfied, sending its share price down 4 percent. Its earnings report for the April-June quarter show why.


Target Taps Pepsi Exec as New CEO

Target is bringing in an outsider as its CEO for the first time as the Minneapolis-based retailer fights to redefine itself to American shoppers.


Exxon Profit Rises, Production Drops

Exxon Mobil net income rose 28 percent in the second quarter on a sale of Asian assets and higher oil prices, but oil and gas production slipped 6 percent.


MasterCard 2Q profit rises on volume growth

PURCHASE, N.Y. (AP) MasterCard's second-quarter net income climbed 9.8 percent as it benefited from volume growth and handled more transactions in the period. The company's results topped analysts' estimates. Shares rose in premarket trading on Thursday. MasterCard Inc. is the world's second-largest processor of debit and credit card payments. Like its bigger rival, Visa Inc., it benefits ...


Avon 2Q slumps as sales fall at home and abroad

NEW YORK, N.Y. (AP) Avon's profit slumped by 40 percent in the second quarter with the struggling cosmetics company booking weak sales in the Americas. Revenue in North America tumbled 20 percent, it fell 16 percent in Latin America and 13 percent in the Asia Pacific region. Overall net income declined to $19 million, or 4 cents per share, from $31.9 million, or 7 cents per share, in the ...


Kellogg 2Q profit drops 16 percent

BATTLE CREEK, Mich. (AP) Kellogg Co. (K) on Thursday reported net income that declined by 16 percent in its second quarter. The results matched analysts' expectations. The Battle Creek, Michigan-based company said earnings dropped to $295 million, or 82 cents per share, from $352 million, or 96 cents per share, in the same quarter a year earlier. Earnings, adjusted for restructuring costs ...


MasterCard second-quarter profit increases 9.8 per cent, tops estimate

PURCHASE, N.Y. - MasterCard Inc.'s second-quarter net income climbed 9.8 per cent, topping analysts' expectations. The Purchase, New York-based company said profit increased to $931 million, or 80 cents per share, from $848 million, or 70 cents per share, in the same quarter a year earlier. The average estimate of analysts surveyed by Zacks Investment Research was for a profit of 77 cents per ...


BofA Slapped With $1.3 Billion Fine

A federal judge imposed a $1.3 billion civil penalty against Bank of America for its role in selling risky mortgages to Fannie Mae and Freddie Mac that were advertised as safe investments.


Vanguard's Investment Model Comes Under Scrutiny

A lawsuit against Vanguard Group by one of its former tax lawyers could reduce the mutual fund's cost advantage in the marketplace.


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