Topic: Growth Stocks

Wall Street Stock Forecaster Hotline – Friday, November 4, 2011

Article Excerpt

PROCTER & GAMBLE CO., $63.03, New York symbol PG, is one of the world’s largest makers of household and personal-care products. Some of its top brands include Tide detergent, Crest toothpaste, Head & Shoulders shampoo and Pampers diapers. In April 2011, the company agreed to merge its Pringles potato-chip business with Diamond Foods Inc. (Nasdaq symbol DMND), which makes a variety of snack foods, including potato chips, nuts and popcorn. Pringles accounts for less than 4% of Procter’s revenue and earnings. Under the terms of the deal, Procter will give its investors the option to exchange some or all of their shares for a holding in Diamond. That would give Procter shareholders 57% of the combined company. Diamond investors would own the remaining 43%. Procter and Diamond planned to complete the transaction by the end of 2011. However, Diamond’s shares plunged 31% this week, due to concerns over how it accounted for payments to walnut growers. That could force Diamond restate its earnings,…