Top Procter & Gamble Co (PG.N) executives can expect to be peppered with questions about an impending restructuring when they speak with investors at a major industry conference on Thursday. P&G will fully leave the food business once it sells Pringles to Diamond Foods Inc (DMND.O) later this year, and Chief Executive Bob McDonald has raised expectations for a restructuring announcement soon after. "We don't have it fully baked yet but we'll update you on that when we announce the closure of that deal," McDonald said during an Aug. 5 conference call. P&G usually restructures without the public taking much notice. It typically absorbs hundreds of millions of dollars in restructuring costs each year rather than spelling them out as one-time charges or unusual items.
The Procter & Gamble Company (P&G) is focused on providing consumer packaged goods. Shares of PG traded higher by 0.69% or $0.43/share to $62.81. In the past year, the shares have traded as low as $57.56 and as high as $67.72. On average, 11813600 shares of PG exchange hands on a given day and today's volume is recorded at 4387283.
Diamond Foods, Inc. (Diamond), incorporated in 2005, is a packaged food company focusing on building, acquiring and energizing brands. Shares of DMND traded higher by 1.34% or $1.01/share to $76.41. In the past year, the shares have traded as low as $37.91 and as high as $80.16. On average, 221137 shares of DMND exchange hands on a given day and today's volume is recorded at 113525.
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