The U.S. price of Clorox bleach is going up 12 percent, the latest move by Clorox Co (CLX.N) to fight rising material costs that have cut into profits. The price increase was one of several announced on Wednesday, even as Clorox said its fiscal fourth-quarter profit fell less than expected and that costs in the current fiscal year will rise less than it previously thought. Shares of the company, which last month rebuffed two takeover offers from Carl Icahn, fell 1.4 percent. Clorox, which makes cleansers, charcoal, salad dressing and other goods, is more heavily exposed to volatile commodity prices than some larger peers such as Procter & Gamble Co (PG.N). The commodities Clorox buys include resin, diesel, chlor-alkali and sodium hypochlorite.
The Clorox Company (Clorox) is a manufacturer and marketer of consumer and institutional products. Shares of CLX fell by 1.48% or $-1.04/share to $69.25. In the past year, the shares have traded as low as $60.56 and as high as $75.44. On average, 1631400 shares of CLX exchange hands on a given day and today's volume is recorded at 2133610.
The Procter & Gamble Company (P&G) is focused on providing consumer packaged goods. Shares of PG fell by 0.36% or $-0.22/share to $60.65. In the past year, the shares have traded as low as $59.17 and as high as $67.72. On average, 9963930 shares of PG exchange hands on a given day and today's volume is recorded at 9452502.
