Philip Morris acquired Nabisco Holdings last month, adding well-known brands such as Oreo cookies and Ritz crackers to Kraft, the world's No. 2 food company behind Swiss giant Nestle. BACK TO TOP Analysts have forecast core earnings per share for P&G of $3.10 to $3.17 for the full fiscal year, up from $2.95 in the previous year. The company reiterated that it was comfortable with the high end of this range of estimates.
Based on current trends and expectations, the company said it now expects unit volume to be about flat for the year, and sales, excluding foreign exchange effects, to be up 2 percent to 4 percent.
In the past year the stock, a component of the Dow Jones industrial average, has underperformed that index by about 30 percent.
In recent months P&G has raised prices on its products to try to cope with rising costs. Most of those price boosts have been matched by competitors, but in some instances the increases were not matched, causing P&G to lose market share. BACK TO TOP
UPS Cuts 2001 Outlook, Misses Expectations
United Parcel Service, the world's No. 1 package delivery company, reported today a profit slightly above lowered Wall Street expectations and cut its earnings forecast for 2001 because of a slowing economy.