Page 25 - ARUBS TODAY

BUSINESS Wednesday 11 OctOber 2017
A25

Pfizer considers US stocks rise after strong earnings forecasts

selling consumer
business division By MARLEY JAY declined $3.79 to $987.20

NEW YORK (AP) — Pfizer AP Markets Writer after a four-day winning
may be done selling Chap- NEW YORK (AP) — A big streak.
Stick, Advil, Robitussin and jump for Wal-Mart helped Airlines rose after American
other brands that people the Dow Jones industrial raised an important rev-
can buy without a pre- average set a record Tues- enue forecast and United
scription. day, while gains for other Continental predicted big-
The pharmaceutical gi- retailers and airlines sent ger profit margins. Airlines
ant is weighing options for other stock indexes higher have been stung by a series
its consumer health care as well.Airlines rose follow- of hurricanes that affected
business. It may spin off or ing strong forecasts from the Southeastern U.S. over
sell the unit, which also pro- American and United. Utili- the last few months. Inves-
duces Advil, Preparation H ties and smaller companies tors are worried about ex-
and the Centrum brand of also climbed, while banks tensive discounts on ticket
vitamins. Pfizer may also edged higher as investors Trader Gordon Charlop works on the floor of the New York Stock prices, but so far their third-
leave the business as is, prepared for the finan- Exchange. A big jump for Wal-Mart helped the Dow Jones in- quarter results look bet-
with no sale. cial sector to start report- dustrial average set a record Tuesday. ter than expected.United
The New York drugmaker ing its third-quarter results (AP Photo/Richard Drew) jumped $3.02, or 4.7 per-
expects any decisions on in a few days. Wal-Mart cent, to $67.72 and Ameri-
the business to be made notched its biggest gain in investors were glad to see points, or 0.1 percent, to can rose $2.43, or 4.8 per-
next year. almost a year and a half signs of success.“There’s 6,587.25. The Russell 2000 cent, to $53.03. Delta gave
Chairman and CEO Ian after the company said it very little retail loyalty index of smaller-company a positive update of its
Read said Tuesday that expects its digital sales to now,” she said. “Consum- stocks rose 4.44 points, or own a week ago, and on
consumer health products rise 40 percent in its next ers just want choice, price 0.3 percent, to 1,508.01. Tuesday it added 96 cents,
are distinct enough from fiscal year. It also plans and convenience.”The Wal-Mart bought online or 1.9 percent, to $52.70.
the company’s main bio- to buy back $20 billion in Standard & Poor’s 500 in- retailer Jet for $3 billion last Chipmaker Nvidia will work
pharmaceutical business stock over two years.Wal- dex added 5.91 points, or year and has also snapped with Deutsche Post DHL to
that its value might be Mart has invested billions 0.2 percent, to 2,550.64. up ModCloth and Bonobos start testing autonomous
“more fully realized” out- in its e-commerce busi- The Dow Jones industrial and is aiming to expand delivery trucks in 2018. The
side the company. ness in recent years. Katie average gained 69.61 online grocery sales as stock rose $3.54, or 1.9 per-
The consumer health care Nixon, chief investment points, or 0.3 percent, to well. On Tuesday Wal-Mart cent, to $188.93. Nvidia is
unit had revenue of about officer for Northern Trust 22,830.68. Wal-Mart was Stores gained $3.60, or 4.5 up 10-fold over the past
$3.4 billion last year, while Wealth Management, said responsible for almost half percent, to $84.13. Target three years.Automotive
the company as a whole Wal-Mart’s online business of that gain. The Nasdaq rose $1.35, or 2.4 percent, parts and electronics mak-
recorded $52.8 billion. is critical to its survival, so composite picked up 7.52 to $57.60 and Amazon er Delphi slumped.
genheim Securities and P&G fends off activist investor Nelson Peltz
Centerview Partners, Gug-

Morgan Stanly are work- By MICHELLE CHAPMAN about $3.5 billion in P&G would disrupt the work that over. Trian, which invested
ing as financial advisers for Associated Press shares, said moments af- he is doing. in the company less than
the review.Pfizer’s larger Initial voting results show ter the vote that it would Taylor, also speaking on a year ago, said that the
prescription drug business Procter & Gamble success- await certified results, CNBC, expressed his con- shares have been pumped
includes the erectile dys- fully fending off an attempt which appeared to have fidence in the company’s up by its ownership and in-
function treatment Viagra, by activist investor Nelson been decided by a razor- board members.“I think terest.Peltz has been on a
the breast cancer drug Peltz to capture a seat on thin margin.“This was a big they’re doing exactly what winning streak and his influ-
Ibrance and the cholester- its board, though he did fight,” Peltz told CNBC out- we need,” he said.Shares ence is being felt in a num-
ol fighter Lipitor. The com- not immediately concede, side of P&G headquarters. of P&G have jumped 20 ber of boardrooms in the
pany booked a $3.07 billion saying it was too close. Almost 40 percent of P&G percent since Taylor took U.S.q
profit in the in the second Shares in the consumer shareholders are small in-
quarter on $12.9 billion in products giant are down vestors, and the final re-
revenue. The company will following the vote at sult appeared to pit them
report third-quarter results Procter & Gamble’s head- against institutional inves-
later this month. quarters in Cincinnati on tors that backed Peltz.
Pfizer said in August that it Tuesday.“We are encour- Trian says that P&G has un-
expects to gain regulatory aged that shareholders derperformed its peers for
approvals over the next recognize P&G is a pro- a decade.But Procter &
five years for up to 18 new foundly different, much Gamble Co. says that since
drugs and a half-dozen stronger, more profitable David Taylor was named
“biosimilars,” or near-ge- company than just a few CEO two years ago, the
neric versions of complex years ago,” the compa- company has been mov-
injected drugs manufac- ny said.Peltz’s Trian Fund ing in the right direction,
tured inside cells. q Management, which owns and that giving Peltz a seat