Procter & Gamble (NYSE:PG) is down 2.97%, despite reporting strong numbers for Q1 and lifting its full-year organic sales view to +4%.
"This is third quarter in a row of very strong volume, sales, consumption and market share growth being driven by a strategy of superiority," CFO Jon Moeller told CNBC earlier today.
P&G brands that did particularly well during the quarter include SK-II, Olay and Crest - while Gillette and the baby care business lagged.
Investors may be taking some issue with P&G's exceptionally broad range for full-year EPS growth (+3% to +8%), according to Wells Fargo's Bonnie Herzog. That wide range was expected to be narrowed down a bit. Another theory being floated around is that some profit taking is taking place with institutional funds.
Previously: Procter & Gamble sees FQ3 volume and pricing gains (April 23)
Previously: Procter & Gamble beats by $0.02, beats on revenue (April 23)
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