P&G Reiterates Cost-Saving Objectives and 3 Dow Stocks to Track
3M Company (NYSE:MMM) and FCI, which is a top provider of power products and interconnect systems, have reached a second-source agreement which covers the High Power Card Edge and HP2 power product families. The former expects to have the connectors available early next year.
Microsoft Corporation (NASDAQ:MSFT) Chief Executive Steve Ballmer said that his company should take advantage of the opportunity to integrate hardware and software as it takes on Apple’s (NASDAQ:AAPL) iPad with the Surface tablet computer, according to Bloomberg.
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Exxon Mobil Corporation (NYSE:XOM): Oil traded at almost the highest level in more than a week following the Israeli attack on the Gaza Strip due to worries that Middle East unrest would hamper supply, says Bloomberg. Meanwhile, a report indicated that domestic stockpiles rose to the highest levels since July. The contract increased by 94 cents, or 1.1 percent, to $86.32 on Wednesday, which marks the highest settlement since November 6th. Thus far in the year, prices have fallen 13 percent.
Procter & Gamble Co. (NYSE:PG) will reiterate the cost savings targets it reported earlier in 2012, among which include $6 billion out of cost of goods sold, $1 billion from increased marketing efficiencies and $3 billion derived from core selling, general and administrative overhead costs. P&G is aiming at a non-manufacturing enrollment decrease of around 5,700 jobs by the end of fiscal year 2013. Further, the company expects to bring an annual 5 percent net productivity improvement in its manufacturing operations. At Thursday’s meeting, spokespersons will introduce a new objective through which to shrink non-manufacturing enrollment by between 2 and 4 percent per year through fiscal years 2014 to 2016 to reinforce the company’s ability to meet its savings objectives. The newly-named Global Productivity and Organization Transformation Officer, Jorge Uribe, will talk about the design-based approach that P&G will take to achieve the strengthened core SG&A overhead plans.
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