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Friday, October 24, 2014

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

Procter & Gamble Co said it would split off its Duracell battery business into a separate company as it looks to focus on its faster-growing brands. The world's largest household products maker also reported a slight fall in quarterly sales.Net income attributable to Procter & Gamble fell to $1.99 billion, or 69 cents per share, in the first quarter ended Sept. 30 from $3.03 billion, or $1.04 per share, a year earlier.The maker of Pampers diapers and Tide detergent said net sales fell to $20.79 billion from $20.83 billion.The company said in August that it could sell about half of its brands in the next two years and cut jobs to revive sales growth and save costs.

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 14297164.