Sep. 28, 2014, 6:03 AM
- After announcing its exit from Venezuela this past Monday, Clorox (NYSE:CLX) says it now fears serious safety concerns at the facilities it left behind.
- The Venezuelan government has announced that it will be taking over the Clorox-owned plants, which manufacture bleach, cleaning liquids and other disinfectants.
- "The Venezuelan government's actions raise grave concerns, and Clorox and its affiliates cannot be responsible for the safety of workers and the surrounding communities or any liability or damages resulting from this occupation," says the company.
- Clorox also states that the seizure of Venezuela assets will not affect the company's sales and earnings outlook for fiscal year 2015.
Sep. 22, 2014, 9:51 AM| Comment!
Sep. 22, 2014, 9:08 AM
Sep. 22, 2014, 8:10 AM
- Shares of Clorox (NYSE:CLX) are higher in early trading after the New York Post reports the company was the target of takeover interest during the last three to six months.
- A number of analysts think an acquisition premium will linger over the stock due to the stable of strong brands Clorox possesses.
- CLX +2.7% premarket to $93.01.
Sep. 21, 2014, 4:17 AM
- Just months before its recent C-suite shuffle, Clorox (NYSE:CLX) reportedly rebuffed a takeover offer from a rival.
- The spurned suitor valued Clorox at a 20% premium to its trading price.
- Logical suitors include Church & Dwight (NYSE:CHD), Procter & Gamble (NYSE:PG), Jarden (NYSE:JAH) and Unilever (UL, UN)
- In 2011 activist investor Carl Icahn offered $78/share for the company. Many believe the move was designed to tease out a strategic buyer. Shares closed Friday at $90.57.
Sep. 18, 2014, 4:22 PM
Sep. 17, 2014, 12:25 AM
Aug. 6, 2014, 1:54 PM
- A number of consumer staples stocks are in favor with investors as they shift their focus to a defensive posture and dividend yields.
- Some of the names showing outsized gains include PepsiCo (PEP +1.5%), Clorox (CLX +1.6%), Revlon (REV +1.6%), Colgate-Palmolive (CL +1.5%), Coca-Cola (KO +1.6%), Kraft Foods Group (KRFT +2%), and Procter & Gamble (PG +1.7%).
- It's no coincidence that the Consumer Staples ETF (NYSEARCA:XLP) is up 0.8% for the day to best market averages.
Aug. 4, 2014, 1:14 PM
- Estimates on Clorox (CLX -2.6%) are being taken lower by investment firms after the company's FQ4 sales read came in light.
- Credit Suisse stays with its Underperform stance, saying Clorox's organic sales will only grow in the low single-digits
- B. Riley lowers its FY15 EPS guidance to $4.40, below the mid-point of Clorox's guidance.
- Citigroup is taking the long view on Clorox to stick with a Buy rating despite the short-term profit hiccups.
Aug. 1, 2014, 8:43 AM
- Clorox (NYSE:CLX) reports sales fell off 0.5% in FQ4 after the impact of currency swings is backed out.
- Pricing was a negative factor during the period as the company's Household and Cleaning segments both saw sales slip due to promotional activity.
- The Lifestyle segment performed better in the quarter with a 2% volume and sales gain on the back of strong demand for Burt's Bees products.
Aug. 1, 2014, 8:32 AM
Jul. 31, 2014, 5:30 PM
May 31, 2014, 12:02 AM
- The FBI and SEC are pursuing a major insider trading probe involving investor Carl Icahn, golfer Phil Mickelson and Las Vegas gambler Billy Walters, according to multiple reports.
- Investigators reportedly are examining whether Icahn (IEP) passed non-public tips on investments he was planning to make to Walters, and whether Walters then tipped Mickelson.
- The government investigation is said to have begun after Icahn accumulated a 9% stake in Clorox (CLX) in Feb. 2011; Icahn made a $10.2B bid for CLX in July, and large, risky trades made in CLX options in the days before the bid sparked rumors that word had leaked.
- Authorities also are looking into trades Mickelson and Walters made related to Dean Foods (DF).
May 13, 2014, 8:21 AM
May 1, 2014, 8:33 AM
Apr. 30, 2014, 5:30 PM
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