P&G Backs Profit Forecast, Shares Down
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Procter & Gamble Co. PG.N on Thursday  backed its quarterly profit outlook, helped by sales of new  products and continued gains in developing markets.
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Natural gas producer and pipeline  company El Paso Corp.  posted a second-quarter profit on  Monday, but its exploration and production earnings weakened,  sending its shares down 4.5 percent.
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Procter & Gamble Co.  and its smaller rival Colgate-Palmolive Co.  posted slightly better-than-expected quarterly sales and profits on Tuesday and signaled that their businesses look good for the rest of 2007.
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By George Chamberlin , Daily Transcript Financial Correspondent. Stocks moved higher late in the session on Thursday after Procter &amp; Gamble (NYSE: PG) released a positive forecast for sales and profits.
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Google Inc  reported a  lower-than-expected quarterly profit on Thursday and predicted  further spending to shore up its operations, sending its shares  down as much as 9.5 percent.
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The company said quarterly profit rose to $494 million despite a slowing U.S. economy, but it lowered its full-year earnings outlook.
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FedEx Corp  on Thursday reported higher quarterly profit despite a slowing U.S. economy, but lowered its full-year earnings outlook, sending its shares down nearly 2 percent.
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Profit at PG&amp;E Corp. fell 55.3 percent in the most recent quarter, a drop the company blamed Tuesday on a lingering effect of California&#39;s energy crisis.
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Procter & Gamble Co. PG.N on  Wednesday said quarterly profit rose 14 percent on strong sales  in all regions, but shares fell because of industry issues and  margin concerns.
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Oil giant BP Plc  posted a lower-than-expected 12 percent drop in fourth-quarter profit on Tuesday as production fell and taxes rose but investors were disappointed by scaled back growth plans and rising costs.
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Google Inc  reported a lower-than-expected quarterly profit on Thursday and predicted further spending to shore up its operations, sending its shares down as much as 9.5 percent.
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General Motors Corp. GM.N on Thursday  posted disappointing quarterly earnings and cut its 2004 profit  forecast due to mounting losses in Europe and slowing growth in  China, sending its shares down 5 percent.
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British computer and video games  retailer Game Group Plc  said it expected its full-year  profit to be ahead of an average market forecast after  continued strong sales in the run-up to Christmas, boosting its  shares.
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McGraw-Hill Cos , the book and magazine publisher and owner of Standard & Poor's, on Thursday said fourth-quarter profit fell 31 percent, as disruptions in global capital markets dampened demand for credit ratings.
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General Electric Co.  backed its  first-quarter and full-year earnings forecasts on Thursday and  said it expects a $565 million pretax gain from divesting a  33.3 million share stake in Swiss RE .
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Colgate-Palmolive Co. CL.N on Monday  issued its first formal profit warning in almost a decade,  saying earnings will fall well short of Wall Street forecasts  due to higher marketing spending, sending its shares down 11  percent to a four-year low.
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Amazon.com Inc  on  Wednesday issued quarterly earnings and full-year sales  forecasts ahead of Wall Street targets, but profit margins  declined in what one analyst called a disappointment.