Revlon's forecast warning sends stock plunging

Article Abstract:

A third-quarter earnings warning to Revlon Inc.'s investors precipitated a 44% plunge in the company's stock prices. Stunned industry analysts have said that Revlon, which manufacturers Revlon, Almay and Ultima II makeup brands, was hurt by number of factors, including the Asian economic crisis and a downward turn in the US mass-cosmetics market. A dramatic $100 million miscalculation in projected sales earnings, which were reported late in the third quarter, prompted the unexpected announcement.

Comment:

Has provided a third-quarter earnings warning to its investors, precipitating a 44% plunge in the company's stock prices

Toiletries, Toilet Preparation Manufacturing, Revlon Inc.

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Contrite, Kimberly-Clark's CEO promises to mop up

Article Abstract:

In early 1998 Kimberly-Clark issued its first quarterly profit warning in 125 years.The 20% drop in profits made no one happy. Several factors contributed: management of the commercial tissue business after the Scott merger; 5,000 job cuts and plant downsizing in November '97; management of tissue pricing and manufacturing in Europe; and its attempt to reduce its own pulp production to 20% internally. Now the CEO promises to have everything back on track by July l998.

Comment:

Investors are very disappointed in the firm's first quarter performance; profits down 19%

Paper & Allied Products, Paper Manufacturing, Paper industry, Kimberly-Clark Corp.

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P&G's net jumps 12%, but shares fall on worries about its growth targets

Article Abstract:

Procter & Gamble Co. (P&G) announced that it posted an increase of 12% for its profits for the fiscal fourth-quarter of 1998. However, the company's shares saw a 5.1% drop because of concerns over weak unit sales growth in the US and in Europe, as well as due to continuing difficulties in Asia. Some feared that P&G would not meet its targets because of these concerns. The company posted $686 million in net income for the quarter ending June 30, 1998.

Comment:

Posts an increase of 12% for its profits for the fiscal fourth-quarter of 1998, but shares drop 5.1%

Soap and Other Detergent Manufacturing, Soaps & Detergents, Procter & Gamble Co., Cleaning agents industry

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