Procter & Gamble
Procter & Gamble, which is the world’s largest advertiser, wants to spend less on marketing. The maker of everything from Pampers to Gillette razors says it will cut costs by a half a billion dollars to help other parts of its company accelerate growth. Shares were off a fraction to $80.60.
Activist investor Nelson Peltz has a key backer in his fight for influence at DuPont. Institutional Shareholder Services recommended that shareholders give the billionaire investor seats on the company’s board. This as Peltz’s Trian Fund is pushing the chemical maker to split into two companies. Shares were 4.5 percent higher to $74.81.
The Container Store
A big miss from The Container Store sent that stock as much as 25-percent lower after the close. The company’s quarterly earnings and revenue came in well below estimates. The retailer blamed weather among other factors. Shares, as you can see, were way off initially after the bell. Before the close the stock was up one percent to $21.69.
A tough day for drug maker Akorn Pharmaceuticals. Investors got a chance to react to an announcement that the company will restate its earnings from the final three quarters of 2014, and its first quarter filing for 2015 will probably be delayed. This as some of the previously announced financial information turned out to be wrong. Shares fell 22-percent to $43.10.