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Friday, October 24, 2014

P&G to exit Duracell battery business, (NYSE: PG)

Procter & Gamble Co said it would exit its Duracell battery business, likely through a splitoff into a separate company, as it looks to focus on faster-growing brands.P&G, which also reported a slight fall in quarterly sales, said a stronger dollar would significantly hurt revenue and earnings in the current quarter.The world's No. 1 household products maker said in August it could sell about half of its slow-growing brands in the next two years and cut jobs to revive sales growth and save costs.Duracell was widely considered to be one of the largest assets that P&G was likely to divest.

The Procter & Gamble Company (P&G) is focused on providing consumer packaged goods. Shares of PG fell by 1.19% or $-1.0/share to $83.23. In the past year, the shares have traded as low as $75.26 and as high as $85.82. On average, 7974580 shares of PG exchange hands on a given day and today's volume is recorded at 14427832.