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3XSQ: Procter & Gamble crushes profit expectations

Thursday, October 25, 2012 - 04:31

Oct 25 - Procter & Gamble's profit excluding items rose more than expected and the company maintained a key forecast for the year, signaling after coming under pressure from activist investor Bill Ackman.

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Head getting we like started and stayed strong and threat facing Mexico without any embarrassment. Later in the -- This three Times Square this Thursday from Reuters world headquarters in New York. Our power player of the day keeping the critics at day. It's Procter & Gamble CEO Bob McDonald the Dow component posted a profit that far surpassed expectations. And maintained its guidance for the year. It comes one day after Warren Buffett on CNBC called -- quote a terrific human being but expressed displeasure at the earnings. McDonnell also facing pressure from activist investor bill Blackman who is blamed executives for high costs. Shares closed at 680 late Wednesday and are now it's 6985. Roughly. Another state you know who has faced his fair share of criticism is Microsoft's Steve Barr. Balmer talking to writers today about the launch of the company's surface tablet and its new windows eight operating system. You can see interview on Reuters Insider. Apple and Amazon also with news of their -- today earnings results after the bell. The competition in the tablet market not helping best buy shoppers preferring to make -- electronics purchases on line. The chain issuing a profit warning and saying and it's you as business will leave. Former CEO Richard -- still considering making abated. Shares down again the stocks when he twelve low heading into today with 1625. And they are now fifteen minute time. Best buy suffering in the US while Ford is suffering in Europe are Jean McGee joins us from London with that Jamie and other factory close. Yes -- that's -- I mean as you say they have these -- extremely. Tough times before -- Europe. Yesterday the company announced that third plant -- this year taxing more than 4000 jobs and the Belgian type of bank today. Pass them on -- at 24 hours later and has a nice to foreclosure. This time I was a bomb making factory and so content on the south coast of England. A -- 1400. Jobs will go they are so pretty savage cost saving drive from Ford's. It is intending to reduce our capacity -- it by 18% -- 355000. Vehicles. And of course not because they're the farm is losing money on the -- this year the company expects to lose that an excess of one and a half billion dollars in Europe. -- -- OK moving on to luxury cars adding BMW faring pretty well but one of their arrivals not so much right. Exactly exactly MM Ford is that how obvious problems in Europe. But -- of the company and not doing so well either on this one. As you suggested may be something of a surprise because as John and we all think of -- top companies is doing extremely well in these tough times. Not so far for the final Dimon said it will misses 2012 outings target. Profits not expected to come in about eight billion euros that's pending before interest and tax. Down from a previous forecast of what -- nine billion. And I'm also said it's it will take longer to -- 10% margin target for Mercedes -- it's a tough market conditions I'm so again like force. As gonna cut costs that violent intends to cut two billion euros in cost. By the end of twenty what team but it's still hopes to pay a dividend. We'll see if not one -- out. -- OK Jamie thanks so much with the auto update from Europe in McKiver. And finally CEO of the politicians may have a lot on their shoulders but these guys really have big shoes to fail. We're talking about clowns. Roughly 800 of them took to the streets of Mexico City for the seventeenth annual international clown convention. -- seeking support and respect there art. Jolly gestures from a range of Latin nations and the US department seminars and stocked up on the latest costumes make up and magic tricks. Don't laugh clowns can make up to 50000 dollars annually according to an article dot com and that is here is that. That's the latest -- Times Square this Thursday you could follow us on Twitter at Reuters Insider and check out our -- YouTube channel. At Reuters dot com slash TV and we -- card this is right.

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3XSQ: Procter & Gamble crushes profit expectations

Thursday, October 25, 2012 - 04:31