Stocks Close Lower, Fed in Focus
Stocks closed lower, ahead of the Fed’s decision on interest rates. However, the top story on Wall Street today was the resignation of Merrill Lynch
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PowerRating) Chairman and CEO Stan O’Neal (full story). In a related story, BlackRock
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PowerRating) announced that Stan O’Neal also resigned from their board of directors (read more).
Procter & Gamble
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PowerRating) reported a 14% rise in Q1 profit and 8% rise in net sales. The company also issued Q2 guidance and raised its full-year 08 outlook (read more).
Colgate-Palmolive
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PowerRating) earnings rose, due to 12% worldwide sales growth (read more).
Eli Lilly
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PowerRating) announced a deal with Glenmark Pharmaceuticals and made adjustments to its Q4 numbers (read more).
Venoco
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PowerRating) reported Q3 production rose 22% and forecast full-year 07 production up 25% (read more).
Energizer Holdings
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PowerRating) Q4 profit rose, with the company citing higher sales and last year’s charges for the gains (read more).
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