P&G's initial decline had nothing to do with earnings. The market later agreed

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Management's call with investors had us feeling very good about Procter & Gamble's future, no matter the economic backdrop.

Procter & Gamble shares were down sharply early in Friday's session after the consumer products giant reported a mixed quarter. We viewed the action as a bit of profit-taking — and not a reflection of the results. The stock entered the session on a four-day winning streak while the broader market declined. Late Friday, as the Dow went into the green, so did P & G stock. P & G sales in the three months ended March 31 increased 1% year over year to $20.

In this photo illustration, Pantene and Head & Shoulders hair products are displayed on July 28, 2023 in San Anselmo, California.shares were down sharply early in Friday's session after the consumer products giant reported a mixed quarter. We viewed the action as a bit of profit-taking — and not a reflection of the results. The stock entered the session on a four-day winning streak while the broader market declined.

 

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