Colgate-Palmolive http://so-l.ru/tags/show/colgate_palmolive Tue, 17 Jul 2018 07:20:14 +0300 <![CDATA[Top and Flop Sectors of Q1 and Their Wining & Losing Stocks]]> Wall Street apparently stuttered to start 2018 with key equity gauges like the S&P 500 losing about 2.6%, Dow Jones shedding 3.5% and the Nasdaq composite adding barely 0.7% in the first quarter (as of Mar 28, 2018).

In any case, the first quarter is mostly downbeat every year with freezing cold locking people inside and economic productivity slacking. This year, GDP for Q1 is expected to be around 1.8% from 2.9% registered in Q4 of 2017.

Still, worries that especially stumped investors in Q 1 were increased inflationary expectations, chances of faster Fed rate hikes and the resultant uptick in the Treasury bond yields, Trump’s announcement of import tariffs and the associated possibilities of trade war, and a rout in tech stocks. However, the long-avoided and most-discussed commodity oil behaved nicely in the quarter.

Against such a faltering backdrop, we would likely to note which sectors stood tall in Q1 and which ones failed. We have also picked two stock winners and losers from each sector.

Winners

Biotech

The biotech sector stayed steady in the quarteron expectations of an increase in M&A activity. Ebbing tensions over the price gouging issue, hopes of easing regulation, positive clinical trials, FDA approvals of drugs and success in the immune-oncology field also spurred the rally. Biotech fund Loncar Cancer Immunotherapy ETF CNCR added 20% in the last three months (as of Mar 28, 2018).

Geron Corporation GERN – Up 184.5% -- Zacks Rank #3 (Hold)

Pfenex Inc. PFNX –Up 127.1% -- Zacks Rank #2 (Buy)

Information Technology

The technology sector has been through peaks and troughs in Q1. The sector, which started off 2018 on solid note helped by emerging technologies, tumbled in March on a host of issues like Facebook’s data breaches, massacre with Nvidia’s self-driving car tests and short selling pressure in Twitter. Still, PowerShares NASDAQ Internet ETF PNQI advanced 7.3% in the quarter.

ACM Research Inc. ACMR – Up 129.4% -- Zacks Rank #3

Mulesoft Inc. MULE – Up 85.0% -- Zacks Rank #3

Aerospace & Defense

The sector is benefiting from higher commercial demand, geopolitical risks, rise in defense spending in other countries, lower energy prices and a Trump bump. In March, lawmakers revealed a massive $1.3 trillion spending bill, which includes the most substantial hike in defense funding in the past 15 years. Nearly $80 billion increase was announced in the latest defense spending, which helped defense stocks in the quarter. PowerShares Aerospace & Defense ETF PPA was up 3.4% in Q1 (as of Mar 28, 2018).

Wesco Aircraft Holdings Inc. WAIR – Up 37.33% -- Zacks Rank #2

Heico Corporation HEI – Up 17.5% -- Zacks Rank #3

Losers

Energy

Though oil prices gained ground in Q1 as evident from 8.9% gains in United States Oil USO, the broader energy sector, marked by Energy Select Sector SPDR ETF XLE, continued to see a decline. XLE was down about 8.3% in Q1.

W2 Energy Inc. AEPT – Down 79.33% -- Zacks Rank #3

Petroquest Energy Inc PQ – Down 59.27% -- Zacks Rank #4 (Sell)

Consumer Staples

Due to rising rate concerns, the apparently safe sector could not stand out in Q1 despite the market selloff. Plus, subdued wage growth as evident from the latest job report and inflationary pressure may have weighed on this consumer-driven sector. Consumer Staples Select Sector SPDR ETF XLP retreated about 7.6% in the first quarter.

Blue Apron Holdings Inc. APRN – Down 51.8% -- Zacks Rank #2

Calyxt Inc. CLXT – Down 40.9% -- Zacks Rank #3

Real Estate

The sector underperforms in a rising rate environment. Yield-hungry investors normally have a large appetite for REIT stocks as the U.S. law requires these companies to distribute 90% of their annual taxable income in the form of dividends. As a result, in a rising rate environment, the appeal for this yield gets quelled. Plus, dependence of REITs on debt for their operations makes these a losing proposition in an era when the Fed is deemed to hike rates faster. Vanguard Real Estate ETF VNQ dropped about 8% in the first quarter.

NorthStar Asset Management Group, Inc. CLNS – Down 50.6% -- Zacks Rank #5 (Strong Sell)

Five Oaks Investment Corp. OAKS – Down 27.1% -- Zacks Rank #3

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Wesco Aircraft Holdings, Inc. (WAIR): Free Stock Analysis Report
 
Heico Corporation (HEI): Free Stock Analysis Report
 
SPDR-CONS STPL (XLP): ETF Research Reports
 
US-OIL FUND LP (USO): ETF Research Reports
 
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PWRSH-AERO&DEF (PPA): ETF Research Reports
 
Geron Corporation (GERN): Free Stock Analysis Report
 
Pfenex Inc. (PFNX): Free Stock Analysis Report
 
Petroquest Energy Inc (PQ): Free Stock Analysis Report
 
Five Oaks Investment Corp. (OAKS): Free Stock Analysis Report
 
ACM Research, Inc. (ACMR): Free Stock Analysis Report
 
Colgate-Palmolive Company (CL): Free Stock Analysis Report
 
To read this article on Zacks.com click here.]]>
http://so-l.ru/news/y/2018_03_29_top_and_flop_sectors_of_q1_and_their_win Thu, 29 Mar 2018 15:46:00 +0300
<![CDATA[*Waste of a Nation*]]>

The authors are Assa Doron and Robin Jeffrey and the subtitle is Garbage and Growth in India, here is one excerpt from this worthy book:

In India, the tool for cleaning teeth and gums had long been a twig usually taken from a neem tree…, which can be plucked each morning, chewed into a teeth-cleaning brush, and then thrown away.  Neem also has medicinal properties.  Tooth powders gained popularity in towns and cities in preindependence times, but in smaller towns as late as the 1960s shops that sold toothpaste had to be searched for.  Consumption of toothpaste was meager.  India’s toothpaste industry in the mid-1970s was estimated to produce about 1,200 metric tons a year for a population of more than 600 million.  An Australian population of 16 million consumed 5,000 metric tons of toothpaste.  By the late 1980s, the Indian market was said to be growing rapidly, but the industry estimated that only 15 percent of the population used toothpaste and that per capita consumption was only 30 grams a year.

…By 2014, a single new factory set up in Gujarat by Colgate-Palmolive was capable of making 15,000 metric tons of toothpaste a year, more than ten times the quantity produced in all of India two generations earlier.

Recommended.

The post *Waste of a Nation* appeared first on Marginal REVOLUTION.

]]>
http://so-l.ru/news/y/2018_03_21_waste_of_a_nation Wed, 21 Mar 2018 07:08:56 +0300
<![CDATA[Из консервативных бумаг на NYSE Colgate-Palmolive пользуется спросом из-за цены к продажам, - Михаил Крылов,директор аналитического департамента "Golden Hills - КапиталЪ АМ"]]> http://so-l.ru/news/y/2018_03_20_iz_konservativnih_bumag_na_nyse_colgate Tue, 20 Mar 2018 10:20:18 +0300 <![CDATA[Can Colgate's (CL) 5% Dividend Hike Drive Stock Momentum?]]> Colgate-Palmolive Company CL is amongst those companies who regularly enhance its shareholders’ value via dividend payouts and share buybacks. Additionally, the company has been consistently increasing dividend rate every year since 2001. Keeping up with the trend, Colgate increased quarterly dividend by 5% to 42 cents from the previous payout of 40 cents per share. Effective second-quarter 2018, this will bring the company’s annualized dividend to $1.68 per share. The new dividend will be paid on May 15, 2018, to shareholders on record as of Apr 20.

On Jan 11, 2018, Colgate declared its first-quarter cash dividend of 40 cents per share, paid on Feb 15.

In fact, the company has to its credit a robust history of rewarding shareholders with regular quarterly dividend payouts since 1895. Since then, Colgate has paid dividends every quarter, even amid economic crises like the Great Depression of the 1930s, stagflation in the 1970s and the recession of 2008.

However, following the latest dividend hike not much movement was noticed in the company’s share price yesterday. In the past three months, the stock has lost 4.8%, narrower than the industry’s decline of 8.8%.


Notably, dividend hikes not only enhance shareholders’ return but raise the market value of the stock as well. In fact, through these dividend increases companies persuade investors to either buy or hold the scrip instead of selling it. Now, it remains to be seen whether this recent hike will help Colgate in regaining the lost momentum.

Prior to the current dividend hike, management had raised quarterly dividend by 3% to 40 cents per share versus 39 cents, in March 2017. Apart from highlighting commitment toward creating shareholder value, regular dividend payments and increments, reflect the company’s potential to enhance earnings and cash flow generation capabilities. Evidently, in 2017, the company returned about $2.9 billion to shareholders through dividends and share buybacks, which marked a year-over-year increase of nearly 3%. Also, this leading manufacturer of consumer products generated $3,054 million of cash from operations in and deployed $553 million toward capital expenditures the same time period.

Apart from Colgate, companies like Archer Daniels Midland Company ADM, The Home Depot, Inc. HD and DICK'S Sporting Goods, Inc. DKS remain keen on rewarding shareholders through share repurchases and regular dividend payments. Recently, these companies have also declared dividend hikes.

Archer Daniels raised its dividend by 4.7% to 33.5 cents per share, which is payable on Mar 13, 2018. Home Depot declared a 15.7% increase in its quarterly dividend to $1.03 per share, payable on Mar 22. DICK'S Sporting Goods approved a quarterly dividend hike of nearly 32% to 22.50 cents per share, payable on Mar 30.

Colgate carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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Colgate-Palmolive Company (CL): Free Stock Analysis Report
 
Archer Daniels Midland Company (ADM): Free Stock Analysis Report
 
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Zacks Investment Research]]>
http://so-l.ru/news/y/2018_03_08_can_colgate_s_cl_5_dividend_hike_driv Thu, 08 Mar 2018 18:36:00 +0300
<![CDATA[With Venezuelan hyperinflation, multinationals buck price controls]]> ]]> http://so-l.ru/news/y/2018_03_08_with_venezuelan_hyperinflation_multinat Thu, 08 Mar 2018 09:42:50 +0300 <![CDATA[Colgate (CL) Gains From Its Savings Plan: Time to Hold?]]> Colgate-Palmolive Company CL has been gaining on the recent progress of its savings program. Moreover, the company remains well poised with innovation, brand building and productivity maximization initiatives. However, strained margins remain a threat.

Let’s analyze the pros and cons of this Zacks Rank #3 (Hold) stock.

Robust Savings Plan: A Key Tool

Colgate remains optimistic about its Global Growth and Efficiency Program as well as Funding the Growth undertakings, which are delivering impressive results. Also, the company has extended its Global Growth and Efficiency Program through Dec 31, 2019. This will enable the company to take advantage of the incremental opportunities in the process of streamlining operations. Additionally, it expects after-tax savings from the program to increase to $500-$575 million compared with $425-$475 million projected earlier.

In fact, Colgate’s four-year Global Growth and Efficiency Program will help the company to improve gross and operating profit and enhance its market share position worldwide. By funding the growth initiative, the company intends to open new environmentally sustainable distribution centers to offer better service to its customers, besides reducing fuel and transportation costs. The aforementioned endeavors are expected to contribute significantly toward the improvement of gross and operating margins over the long term.

Innovation Aids Growth

Colgate has been undertaking innovation and in-store implementation, as a key component of its growth strategies, over many years. This has enabled the company to capture the market share across all regions and categories. On the innovation front, it is coming up with Naturals, an innovation to counter local toothpaste brands, particularly in Asia and Eurasia. Colgate has managed to tailor the Naturals offerings in each of its major markets as well.

Decent Earnings Trend & Bullish Outlook

Colgate has delivered in-line earnings for the third consecutive quarter in fourth-quarter 2017. In fact, this marked the company’s fifth in-line earnings in the last six quarters. Results can be attributed to solid sales and significant market share gains. Going forward, the company remains on track with the brand building and productivity maximization initiatives.

Following the results, Colgate provided a bullish outlook for 2018. The company now anticipates net sales to increase in the mid-single-digit range and organic sales growth of low to mid-single digit. Also, including benefits from the tax reform, GAAP earnings are envisioned to improve in the double-digits range while adjusted earnings are anticipated to be up nearly 10%.

Bottom Line

While all seems well with Colgate, it is currently plagued with strained margins for the past few quarters. In fourth-quarter 2017, the company faced increased raw material and packaging costs as well as higher advertising expenses, thus creating pressure on margins.

Looking ahead, the company expects adjusted gross margin to expand 50-70 bps in 2018. However, it also expects to incur higher advertising expenses, which is likely to weigh upon operating margins. In addition, Colgate anticipates the challenging backdrop to persist due to uncertain global markets and slowing category growth worldwide.

Consequently, shares of Colgate have lost 2.4% in the past three months, outperforming the industry’s decline of 6.8%.

Nevertheless, Colgate’s robust savings program, innovations, brand building and productivity maximization initiatives are likely to drive long-term growth.

Looking for More Promising Bets? Check These

Some better-ranked stocks in the same sector are The Clorox Company CLX, Conagra Brands Inc. CAG and Estee Lauder Companies EL, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Clorox has delivered an average positive earnings surprise of 2% for the trailing four quarters. Also, it has a long-term earnings growth rate of 8.6%.

Conagra Brands has pulled off an average positive earnings surprise is 6.2% for the trailing four quarters. The stock has a long-term earnings growth rate of 8%.

Estee Lauder delivered a positive average earnings surprise of 18.1%. The company has a long-term earnings growth rate of 12.9%.

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Colgate-Palmolive Company (CL): Free Stock Analysis Report
 
Clorox Company (The) (CLX): Free Stock Analysis Report
 
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http://so-l.ru/news/y/2018_02_26_colgate_cl_gains_from_its_savings_plan Mon, 26 Feb 2018 17:21:00 +0300
<![CDATA[Why Is Colgate-Palmolive (CL) Down 9.1% Since its Last Earnings Report?]]> It has been about a month since the last earnings report for Colgate-Palmolive Company CL. Shares have lost about 9.1% in that time frame, underperforming the market.

Will the recent negative trend continue leading up to its next earnings release, or is CL due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.

Colgate's Q4 Earnings In Line, Sales Lag

Colgate-Palmolive Co. posted adjusted earnings of 75 cents a share in fourth-quarter 2017, in line with the Zacks Consensus Estimate and flat with the prior-year quarter. Including one-time items, earnings came in at 37 cents a share compared with 68 cents reported in the year-ago period.

Total sales of $3,892 million improved 4.5% from the year-ago period but lagged the Zacks Consensus Estimate of $3,916 million. The top line gained from 3% increase in global unit volumes and favorable currency impact of 2.5%, offset by 1% decline in pricing. Further, strong volume gains in Latin America, North America and Europe aided sales growth.

On an organic basis (excluding foreign exchange, acquisitions and divestitures), the company’s sales jumped 2%.

Deeper Insight

Adjusted gross profit margin of 60.4% contracted 40 bps from the prior-year quarter driven by higher raw and packaging material expenses and lower pricing. However, this was partially offset by gains from the cost-saving initiatives under the company’s funding-the-growth program.

In the reported quarter, adjusted operating profit of $1,011 million dipped 3%, with the adjusted operating margin contracting 190 bps to 26%. Operating margin decline can be attributed to 160 bps rise in adjusted selling, general & administrative expenses as a percentage of sales, which included higher investments in advertising.

Year to date, Colgate’s market share of manual toothbrushes has reached 32.6%. Further, the company continued with its leadership in the global toothpaste market with 43.3% market share year to date.

Segment Discussion

North America net sales (21% of total sales) rose 1%, reflecting a 4.5% increase in unit volumes offset by 3.5% fall in pricing. However, currency impacts were flat with last year. On an organic basis too, sales improved 1%.

Latin America net sales (25% of total sales) jumped 4% year over year gaining from 4% volume gains and positive currency impact of 1.5%, partly negated by 1.5% decline in pricing. Volume growth can mainly be attributed to increase in Brazil and the Southern Cone and Andean regions, partially mitigated by lower volumes in Mexico and Central America. On an organic basis, sales increased 2.5%.

Europe net sales (16% of total sales) rose 13% year over year, due to 6% increase in unit volumes and a favorable currency impact of 9%, offset by 2% decline in pricing. Unit volumes gained from strength in France, Italy and Germany. Europe organic sales were up 4%.

Asia Pacific net sales (17% of total sales) rose 6%, attributable to 1% increase in unit volume, 1.5% higher pricing and positive currency impacts of 3.5%. Volumes in the quarter benefited from strength in India, which was partly neutralized by declines in the Greater China and the Philippines regions. On an organic basis, sales for Asia Pacific were up 2.5%.

Africa/Eurasia net sales (6% of total sales) jumped 2% year over year, fueled by 2.5% gains from positive currency, partly offset by 0.5% drop in unit volumes while pricing was flat. Lower volumes in the Sub-Turkey and the North Africa/Middle East regions, were partly offset by gains in Russia and the Sub-Saharan Africa region. Organic sales for Africa/Eurasia dropped 0.5%.

Hill’s Pet Nutrition net sales (15% of total sales) were up 2.5% from the year-ago quarter. Results gained from 0.5% increase in pricing and 2% positive impact from currency, while unit volumes remained flat. Volume gains in the United States and Australia were offset by fall in Japan, France and South Africa. On an organic basis, sales rose 0.5%.

Other Financial Details

Colgate ended the year with cash and cash equivalents of $1,535 million and total debt of $6,577 million. Net cash provided by operating activities came in at $3,054 million 2017.

Outlook

Looking into 2018, Colgate anticipates the backdrop to remain challenging due to uncertain global markets and slowing category growth worldwide. However, the company remains on track with its brand building and productivity maximization initiatives. Consequently, the company expects net sales to increase in the mid-single-digit range, while organic sales growth of low to mid-single-digit is likely in 2018.

Including the impact of the expanded Global Growth and Efficiency Program, the company continues to expect gross margin expansion for 2018, along with double digits increase in GAAP earnings per share.

Excluding the restructuring charges resulting from the program and other one-time expenses associated with U.S. tax reform in 2017, the company projects strong cash flow generation, gross margin expansion and higher advertising investments in 2018. Further, the company anticipates low double digit earnings per share growth for the year, on an adjusted basis.

Accounting for the U.S. tax reform, the company anticipates 2018 tax of 26-27%, both on a GAAP basis and excluding the impact of the Global Growth and Efficiency Program.

How Have Estimates Been Moving Since Then?

It turns out, fresh estimates flatlined during the past month. There has been one revision higher for the current quarter compared to one lower.

VGM Scores

At this time, CL has a nice Growth Score of B, though it is lagging a bit on the momentum front with C. However, the stock was also allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.

Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.

Zacks' style scores indicate that the company's stock is more suitable for growth than momentum investors.

Outlook

CL has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.


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Colgate-Palmolive Company (CL): Free Stock Analysis Report
 
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http://so-l.ru/news/y/2018_02_26_why_is_colgate_palmolive_cl_down_9_1 Mon, 26 Feb 2018 13:57:00 +0300
Такие гиганты, как P&G и Nestle, находятся под сильнейшим давлением Amazon и Walmart. Объемы продаж производителей потребительских товаров падают вместе с лояльностью их покупателей.

специально для каналасделала перевод статьи Financial Times от 02.02.2018

Через неделю после того как г-н Пелц приобрел пакет акций Proсter & Gamble стоимостью $3,5 млрд, началось многомесячное противоборство между инвестором-активистом и производителем потребительских товаров. В результате этого противоборства P&G начал пересматривать свою политику. 

Не один год P&G теряла долю рынка, проигрывая своим конкурентам. Одним из них стал Dollar Shave Club (прим. калифорнийская компания, доставляющая бритвы покупателям на дом за ежемесячную плату). И P&G объявила о снижении цен на бритвы Gillette до 20%. Аналитики Barclays назвали это «актом отчаяния».

Этот шаг стал ответом Нельсону Пелцу, который настаивал на том, что компания должна вернуть покупателей обратно, даже если придется снизить цены на то, что давно рекламировалось как «премиальный» продукт. «Вы сказали, что наши лезвия слишком дорогие, и мы прислушались» — говорится на сайте Gillette.

Но P&G не одинока. После публикаций отчетов о прибылях и убытках стало особенно заметно, что проблемы с ценами испытывают также крупнейшие компании-производители продовольственных товаров.

Последние три месяца 2017-го стали знаковыми. Впервые с 2011 года средние цены на продукты P&G и Colgate-Palmolive упали. Наибольшее снижение произошло в категориях с самой сильной онлайн конкуренцией – это бритвенные лезвия и подгузники.

Компания Kimberly-Clark объявила об увольнении 5, 000 сотрудников для того, чтобы снизить цены на подгузники. Mondelez International, производящая знаменитое печенье Oreo и крекеры Ritz, сообщила о том, что средние цены за год выросли на 1,5%, но на двух крупнейших рынках — Северная Америка и Европа – цены значительно упали.

Конечно, это отличные новости для покупателей, но не для мировых производителей потребительских товаров, чья прибыль падает. По словам аналитика Societe Generale: «Производители товаров массового потребления испытывают сильнейшие проблемы в ценообразовании, чем когда-либо».

Такие гиганты, как P&G и Nestle, находятся под сильнейшим давлением Amazon и Walmart. Объемы продаж производителей потребительских товаров падают вместе с лояльностью их покупателей.

Такие компании испытывают огромное давление со стороны крупных ритейлеров – особенно, со стороны Amazon и Walmart. Их совместный объем продаж составляет 600 млрд. долл. Walmart давно требовал от поставщиков снижения цен. А в Société générale утверждают, что рост Amazon имеет «дефляционное воздействие» и создает «еще более жесткие условия в США». После того, как в июне Amazon купила Whole Foods (прим. известная американская сеть супермаркетов, специализирующаяся на органических продуктах), ценовая война стала еще более ожесточенной. Проигрывают в этой войне поставщики, которые вынуждены снижать цены до исторических минимумов. 

Кроме того, пострадала также и лояльность к брендам. Современные потребители вооружены не только инструментами, которые позволяют им без замедлений сравнивать цены онлайн, но и огромным выбором различных товаров. Покупатели все чаще выбирают более дешевые товары или ждут акций и скидок – особенно в таких категориях, как моющие средства и шампуни. Поэтому производителям приходится снижать цены, чтобы их товары оставались на полках магазинов.

«Покупатели получают огромное количество информации о продуктах онлайн, это позволяет им судить об этих продуктах: это просто маркетинг? Действительно ли мне нужно переплачивать?» — говорит Кэти Герш, вице-президент консалтинговой фирмы Kotter.

Брайан Гладден, финансовый директор в Mondelez, утверждает, что его компания столкнулась с «очень конкурентной средой ритейлеров». За 2017 год цены на товары Mondelez упали в США и Европе на 0,6% и 0,1% соответственно. Гладден ожидает, что эта тенденция сохранится и в 2018.

Бывшие сотрудники Amazon рассказали о том, что компания использует алгоритмы, которые способны отслеживать цены среди всех производителей в режиме реального времени. После такого анализа алгоритм предлагает самую низкую цену на товар. Хотя самые крупные бренды заключили оптовые соглашения с Amazon, большое количество сторонних продавцов на сайте сильно затрудняет дальнейший ценовой контроль. Так 9 из 10 продавцов шампуня Pantene Pro-V являются сторонними продавцами.

Из-за господства платформы Amazon, производителям крайне сложно отказаться от нее или продавать товары на собственных сайтах. «У Amazon более, чем 200 млн. покупателей. Если вы обойдете стороной Amazon, то эти 200 млн. покупателей будут приобретать товары ваших конкурентов» — говорит Джеймс Томсон, бывший менеджер Amazon. «Вы точно не одержите победу в этой битве».

«Так можно загнать компанию практически в бедственное положение» — добавляет Джеймс. «Если компании хотят достигнуть своих квартальных целей по продажам, они просто не могут позволить себе потерять рынок Amazon».

«Но ритейлерам будет просто нечего зарабатывать, если они будут подталкивать производителей к банкротству» — говорит Брайан Робертс, руководитель консалтинговой компании TCC Global Retailers. Некоторые категории товаров, знаковые бренды все еще имеют большой авторитет и влияние. Брайан добавляет, что, например, Aldi, немецкая сеть дисконт-магазинов, была вынуждена продавать бренд Coca-Cola.

Вопрос ценообразования поднимается уже неоднократно. А руководители компаний-производителей пытаются переубедить инвесторов. Джон Моллер, финансовый директор P&G, признает, что «сильная конкуренция ритейлеров» в совокупности с медленным ростом рынка «двигает цены вниз».

«Мы изменили цены на наши Luvs (прим. подгузники) … специально для ритейлеров» — говорит Джон. Но, несмотря на этот «больной вопрос», он не считает, что цены будут значительно падать в долгосрочной перспективе.

Такие гиганты, как P&G и Nestle, находятся под сильнейшим давлением Amazon и Walmart. Объемы продаж производителей потребительских товаров падают вместе с лояльностью их покупателей.

У компании Unilever, объявившей о своих годовых финансовых результатах в четверг, цены упали на 1% за последний квартал 2017-го, в сравнении с тем же кварталом 2016-го. Конечно, это больше, чем снижение на 0,1% за весь отчетный год, но объем продаж в последнем квартале увеличился на 3,2%.

Грэм Пикетли, финансовый директор Anglo-Dutch Company, которая производит мыло Dove, дезодоранты Axe и майонез Hellmann, сказал: «За последние несколько лет цены в США были относительно устойчивыми по сравнению с ценами в Европе. Поэтому не так удивительно, что Amazon и электронная торговля растут. Благодаря им цены начинают потихоньку смягчаться».

Тем не менее, продажи Unilever в США составляют всего 13%. Но на развивающихся рынках, таких как, например, Индия и Индонезия выручка составляет 60%, что равняется 53,7 млр. долл. за последний год.

Инвесторы все еще ожидают финансовые отчетности трех европейских компаний с самыми большими объемами продаж в США – Nestlé, L’Oréal и Reckitt Benckiser. При этом Nestlé, швейцарская компания-производитель шоколада Kit-Kat и кофe Nescafe, заявила, что дисконт-магазины и Amazon оказывают дефляционное влияние на цены в США.

Фирмы-производители потребительских товаров ответили на ценовое давление агрессивным снижением расходов. «Бюджетирование на нулевой основе» — модель инвестиционной компании 3G Capital, базирующейся в Нью-Йорке. Эта модель трансформировала отрасль потребительских товаров.

Скорректированная операционная маржинальная прибыль компании Mondelez поднялась на 1,3 процентных пункта в сравнении с 16,3% за прошлый год. На это повлияла введенная программа экономии затрат, благодаря которой компания сохранила 3 млрд. долл. P&G пообещала сократить годовые затраты на 10 млрд. долл. к 2021 году. Unilever планирует сохранить 2 млрд. долл. за 3 года.

Это достаточно устойчивая стратегия для таких компаний, т.к. им приходится принимать во внимание факт снижения цен, комментируют аналитики.

«Очень сложно признать то, что ты больше не растущая компания» — говорит Али Дибаж из Bernstein. «Но все идет именно к этому».

 

Ежедневные свежие выпуски деловых газет: WSJ, FT, Ведомости
https://t.me/freenewspaper





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http://so-l.ru/news/y/2018_02_12_klub_treyderov_smart_lab_aleksandrov Mon, 12 Feb 2018 17:45:30 +0300
<![CDATA[The Zacks Analyst Blog Highlights: Lockheed Martin, Mastercard, Colgate, Electronic Arts and McKesson]]> For Immediate Release

Chicago, IL – February 5, 2018 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Lockheed Martin LMTMastercard MAColgate CLElectronic Arts EA and McKesson MCK.

Here are highlights from Friday’s Analyst Blog:

Top Stock Reports for Lockheed Martin, Mastercard and Colgate

The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Lockheed Martin, Mastercard and Colgate. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.

Strong Buy-rated Lockheed Martin’s shares have gained +40.4% over the last one year, underperforming the Zacks Aerospace Defense sector, which has gained +60.8% over the same period. However, Lockheed Martin ended 2017 on a solid note. Its fourth-quarter earnings as well as revenue figures comfortably exceeded expectations.

The recent tax reform adopted by the U.S. government had an adverse impact on the company’s year-over-year earnings growth, while revenues reflected an uptick. The Zacks analyst emphasizes that being the largest defense contractor in the world, Lockheed Martin experiences strong demand for high-end military equipment in both domestic as well as overseas markets.

Strong order growth has been a primary growth driver for this company. The latest $7-billion deal for the sustainment of F-22 air vehicle is one such order. Lockheed Martin continues to be a strong cash generator, helping it to take important cash deployment decisions. However, the F-35 program, despite being a prime defense project for the U.S. government, has been facing criticism for being overtly expensive, for past few years.

Shares of Mastercard have gained +62.3% over the past one year, outperforming the Zacks Financial Transaction Services industry which has gained +43.3% over the same period. Mastercard’s fourth-quarter earnings beat expectations, driven by higher switched transactions, increase in cross-border volume and gross dollar volume as well as gains from acquisitions. An increase in rebates and incentives from the prior-year quarter was a partial dampener.

The Zacks analyst likes Mastercard’s solid market position, ongoing expansion and digital initiatives. Further, there are significant opportunities from the secular shift toward electronic payments. The acquisitions of VocaLink and NuData Security complement the company’s efforts to participate in new payment flows and enhance its safety and security offerings. However, it continues to face increasing costs. Also, higher incentives and rewards will put pressure on the bottom line.

Colgate’s shares are up +11.2% over the last one year, outperforming the Zacks Consumer Staples sector, which has gained +10.5% over the same period. The Zacks analyst likes the progress on the Global Growth and Efficiency Program along with additional savings anticipated from the recent expansion of the program.

Moreover, the company has been infamous with investors for its meet or beat earnings track record. Notably, it delivered in-line earnings for the third consecutive quarter in fourth-quarter 2017. However, margins continue to be strained due to higher raw material and packaging costs, as well as advertising expenses. It anticipates advertising costs to remain high in 2018, which should hurt operating margin.

Colgate expects the backdrop to remain challenging in 2018 due to uncertain global markets and slowing category growth worldwide. Nonetheless, it remains confident of the brand building and productivity maximization initiatives, which are likely to boost results.

Other noteworthy reports we are featuring today include Electronic Arts and McKesson.

Wall Street’s Next Amazon

Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.

Click for details >>

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Zacks Investment Research

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performancefor information about the performance numbers displayed in this press release.


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Lockheed Martin Corporation (LMT): Free Stock Analysis Report
 
Colgate-Palmolive Company (CL): Free Stock Analysis Report
 
Electronic Arts Inc. (EA): Free Stock Analysis Report
 
Mastercard Incorporated (MA): Free Stock Analysis Report
 
McKesson Corporation (MCK): Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research]]>
http://so-l.ru/news/y/2018_02_05_the_zacks_analyst_blog_highlights_lockh Mon, 05 Feb 2018 17:05:00 +0300
<![CDATA[Pick Up Colgate-Palmolive Company on This Dip]]> Pick Up Colgate-Palmolive Company on This DipColgate-Palmolive Company (NYSE:CL) is one of the leading consumer staples companies in the world. Generally, consumer staples companies are “safety” stocks. This is important because CL is a global company.


]]> http://so-l.ru/news/y/2018_01_31_pick_up_colgate_palmolive_company_on_thi Wed, 31 Jan 2018 19:00:41 +0300 <![CDATA[Key Takeaways From Colgate-Palmolive's Q4 Earnings]]> http://so-l.ru/news/y/2018_01_29_key_takeaways_from_colgate_palmolive_apo Mon, 29 Jan 2018 22:35:00 +0300 <![CDATA[Рынок растет на сильных отчетах. Что ждать на этой неделе? (+ видео)]]>

Однако не у всех компаний с отчетностью было гладко. Слабыми результатами огорчили инвесторов Starbucks (SBUX), Colgate-Palmolive (CL), American Airlines (AAL), Southwest Airlines (LUV). Слабые отчеты авиакомпаний утянули вниз транспортный сектор (IYT) и в нем пошла фиксация прибыли.

Другой группой, в которой также пошла коррекция, был сектор домостроителей (XHB). Здесь триггером на снижение стали оказавшиеся хуже прогноза данные с рынка жилья.

В свою очередь, лидерами роста на рынке стали секторы здравоохранения (XLV) и технологий (XLK). А отстающими — коммунальный сектор (XLU) и сектор базовых материалов (XLB). Продолжающий слабеть доллар (UUP) поддержал рост в сырье (DBC), а рост сырья поддержал рост на развивающихся рынках (EEM, FXI, EWZ, EWW, ILF).

Американский рынок остается сильно бычьим и сильно перекупленным. Текущее ралли длится уже 4 недели, и за это время S&P 500 (SPY) прирос на 7,4%, Dow Jones (DIA) на 7,5%, Nasdaq 100 (QQQ) — на 9,7%. Russel 2000 (IWM) по-прежнему остается самым слабым из индексов, прирастая на 4,7%. Как видно, на рынке продолжается переток денег из облигаций в акции, но пока только крупных компаний.

Такая тенденция может сохраниться на фоне слабого доллара и инфраструктурной реформы Д. Трампа. Основными бенефициарами этой реформы могут стать следующие компании: CAT, CX, MLM, VMC, ACM, CBI, EXP, FLR, GVA, JEC, PWR, USCR, POR, WTR, DUK, MWA, STRL, YORW, AWK, CWT, SJW, AGEN, XYL, LNN, BMI. 

Эта неделя будет очень насыщенной на события, а значит, нам, нужно быть готовыми к повышенной волатильности и возможной фиксации прибыли на рынке в целом или в отдельных его секторах. Все самое интересное нас ждет в среду. Это выступление президента США Д. Трампа, решение по процентной ставке ФРС и отчеты таких компании, как:

  • Пн.: Lockheed Martin (LMT), Principal Financial (PFG).
  • Вт.: Pfizer (PFE), McDonald’s (MCD), Danaher (DHR).
  • Ср.: Microsoft (MSFT), Facebook (FB), Boeing (BA), PayPal Holdings Inc (PYPL).
  • Чт.: Apple (AAPL), Alphabet A (GOOGL), Amazon.com (AMZN), Visa (V), Mastercard (MA).
  • Пт.: Exxon Mobil (XOM), Chevron (CVX), Merck&Co (MRK).

Также на этой неделе наступает февраль. А февраль исторически сильный сезон для XLE (+2,4%), XLB (+2,4%), XLY (+1%), XLP (+0,9%), XLV (+0,5%). И исторически слабый сезон для XLF(-1%), XLK (-0,8%), XLU (-0,6%). На стыке месяцев на рынке обычно живо, насколько живо, покажет время.

Статус рынка

Состояние (статус) рынка на конец недели я публикую на сайте Trades.Mindspace.ru (как его оценивать, пишу здесь). Если вы хотите протестировать данный сервис, то вы можете это сделать, заказав демо.

Дисклеймер

Данный пост не является руководством к действию и не гарантирует прибыли, а представляет собой мнение автора. До того, как открыть торговую сделку, всегда проводите собственный анализ.

P.S. Дата уплаты налогов все ближе

Если вы торгуете через Interactive Brokers и у вас много сделок, то подготовка 3-НДФЛ перестает быть простой задачей. Прежде всего потому что налоговая требует подробный отчет по каждой сделке. И чем больше у вас сделок, тем сложней подготовить такой отчет. Вы можете упростить себе жизнь, поручив подготовку отчета мне. Подробнее здесь.

Хотите получать мои комментарии по рынку акций США? Подписывайтесь на мой канал в Телеграмм. Хотите получать мои торговые идеи? Подписывайтесь на мои сделки​. Интересуетесь криптовалютой? Здесь​ учат ей торговать. Торгуете криптовалютой? Подключайтесь к моему роботу​.

Оксана Гафаити,
Первая русская женщина, торгующая Америку.
Автор Mindspace.ru и Trades.Mindspace.ru


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http://so-l.ru/news/y/2018_01_29_rinok_rastet_na_silnih_otchetah_chto_zhda Mon, 29 Jan 2018 19:31:26 +0300
<![CDATA[Company News For Jan 29, 2018]]>
  • Colgate-Palmolive Company’s CL shares fell 4.9% after reporting fourth-quarter sales of $3,892 million, missing the Zacks Consensus Estimate of $3,916 million
  • Shares of Lear Corporation LEA increased 3.3% after posting fourth-quarter adjusted earnings of $4.38 per share, beating the Zacks Consensus Estimate of $4.25
  • Starbucks Corporation’s SBUX shares decreased 4.2% after reporting fiscal first-quarter sales of $6.07 billion, lower than the Zacks Consensus Estimate of $6.14 billion
  • Shares of Western Digital Corporation WDC increased 1.8% after posting fiscal second-quarter non-GAAP earnings of $3.95 per share, surpassing the Zacks Consensus Estimate of $3.81 per share

  • Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
     
    Western Digital Corporation (WDC): Free Stock Analysis Report
     
    Lear Corporation (LEA): Free Stock Analysis Report
     
    Starbucks Corporation (SBUX): Free Stock Analysis Report
     
    Colgate-Palmolive Company (CL): Free Stock Analysis Report
     
    To read this article on Zacks.com click here.
     
    Zacks Investment Research]]>
    http://so-l.ru/news/y/2018_01_29_company_news_for_jan_29_2018 Mon, 29 Jan 2018 17:47:00 +0300
    <![CDATA[Colgate's Checkup Doesn't Go Well]]> http://so-l.ru/news/y/2018_01_26_colgate_s_checkup_doesn_t_go_well Fri, 26 Jan 2018 18:46:36 +0300 <![CDATA[Colgate (CL) Stock Falls on Flat Q4 Earnings and Sales Lag]]> Colgate-Palmolive Co. CL posted adjusted earnings of 75 cents a share in fourth-quarter 2017, in line with the Zacks Consensus Estimate and flat with the prior-year quarter. Including one-time items, earnings came in at 37 cents a share compared with 68 cents reported in the year-ago period.

    Total sales of $3,892 million improved 4.5% from the year-ago period but lagged the Zacks Consensus Estimate of $3,916 million. The top line gained from 3% increase in global unit volumes and favorable currency impact of 2.5%, offset by 1% decline in pricing. Further, strong volume gains in Latin America, North America and Europe aided sales growth.

    On an organic basis (excluding foreign exchange, acquisitions and divestitures), the company’s sales jumped 2%.

    Colgate-Palmolive Company Price, Consensus and EPS Surprise

    Colgate-Palmolive Company Price, Consensus and EPS Surprise | Colgate-Palmolive Company Quote

    Following the earnings release, Colgate’s shares declined 3.6% in the pre-market trading hours. However, the stock has increased 9.8% in the last three months, outperforming the broader industry’s growth of 3.8%.



    Deeper Insight

    Adjusted gross profit margin of 60.4% contracted 40 basis points (bps) from the prior-year quarter driven by higher raw and packaging material expenses and lower pricing. However, this was partially offset by gains from the cost-saving initiatives under the company’s funding-the-growth program.

    In the reported quarter, adjusted operating profit of $1,011 million dipped 3%, with the adjusted operating margin contracting 190 basis points (bps) to 26%. Operating margin decline can be attributed to 160 bps rise in adjusted selling, general & administrative expenses as a percentage of sales, which included higher investments in advertising.

    Year to date, Colgate’s market share of manual toothbrushes has reached 32.6%. Further, the company continued with its leadership in the global toothpaste market with 43.3% market share year to date.

    Segment Discussion

    North America net sales (21% of total sales) rose 1%, reflecting a 4.5% increase in unit volumes offset by 3.5% fall in pricing. However, currency impacts were flat with last year. On an organic basis too, sales improved 1%.

    Latin America net sales (25% of total sales) jumped 4% year over year gaining from 4% volume gains and positive currency impact of 1.5%, partly negated by 1.5% decline in pricing. Volume growth can mainly be attributed to increase in Brazil and the Southern Cone and Andean regions, partially mitigated by lower volumes in Mexico and Central America. On an organic basis, sales increased 2.5%.

    Europe net sales (16% of total sales) rose 13% year over year, due to 6% increase in unit volumes and a favorable currency impact of 9%, offset by 2% decline in pricing. Unit volumes gained from strength in France, Italy and Germany. Europe organic sales were up 4%.

    Asia Pacific net sales (17% of total sales) rose 6%, attributable to 1% increase in unit volume, 1.5% higher pricing and positive currency impacts of 3.5%. Volumes in the quarter benefited from strength in India, which was partly neutralized by declines in the Greater China and the Philippines regions. On an organic basis, sales for Asia Pacific were up 2.5%.

    Africa/Eurasia net sales (6% of total sales) jumped 2% year over year, fueled by 2.5% gains from positive currency, partly offset by 0.5% drop in unit volumes while pricing was flat. Lower volumes in the Sub-Turkey and the North Africa/Middle East regions, were partly offset by gains in Russia and the Sub-Saharan Africa region. Organic sales for Africa/Eurasia dropped 0.5%.

    Hill’s Pet Nutrition net sales (15% of total sales) were up 2.5% from the year-ago quarter. Results gained from 0.5% increase in pricing and 2% positive impact from currency, while unit volumes remained flat. Volume gains in the United States and Australia were offset by fall in Japan, France and South Africa. On an organic basis, sales rose 0.5%.

    Other Financial Details

    Colgate ended the year with cash and cash equivalents of $1,535 million and total debt of $6,577 million. Net cash provided by operating activities came in at $3,054 million 2017.

    Outlook

    Looking into 2018, Colgate anticipates the backdrop to remain challenging due to uncertain global markets and slowing category growth worldwide. However, the company remains on track with its brand building and productivity maximization initiatives. Consequently, the company expects net sales to increase in the mid-single-digit range, while organic sales growth of low to mid-single-digit is likely in 2018.

    Including the impact of the expanded Global Growth and Efficiency Program, the company continues to expect gross margin expansion for 2018, along with double digits increase in GAAP earnings per share.

    Excluding the restructuring charges resulting from the program and other one-time expenses associated with U.S. tax reform in 2017, the company projects strong cash flow generation, gross margin expansion and higher advertising investments in 2018. Further, the company anticipates low double-digit earnings per share growth for the year, on an adjusted basis.

    Accounting for the U.S. tax reform, the company anticipates 2018 tax of 26%-27%, both on a GAAP basis and excluding the impact of the Global Growth and Efficiency Program.

    Zacks Rank & Key Picks

    Colgate currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the consumer staples sector include The Boston Beer Co. Inc. SAM, Brown-Forman Corp. BF.B and Service Corporation International SCI, all carrying a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

    Boston Beer, with long-term EPS growth rate of 5%, has increased 11.2% in the last three months.

    Brown-Forman has increased 22.9% in the last three months. Moreover, the company has to its credit a spectacular earnings history as it delivered an average positive earnings surprise of nearly 7% in the trailing four quarters.

    Service Corporation, with long-term EPS growth rate of 11.6%, has grown 12.1% in last three months.

    Wall Street’s Next Amazon

    Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.

    Click for details >>


    Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
     
    Brown Forman Corporation (BF.B): Free Stock Analysis Report
     
    Boston Beer Company, Inc. (The) (SAM): Free Stock Analysis Report
     
    Service Corporation International (SCI): Free Stock Analysis Report
     
    Colgate-Palmolive Company (CL): Free Stock Analysis Report
     
    To read this article on Zacks.com click here.
     
    Zacks Investment Research]]>
    http://so-l.ru/news/y/2018_01_26_colgate_cl_stock_falls_on_flat_q4_earn Fri, 26 Jan 2018 18:40:00 +0300
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