PG: PG falls on weak profit forecase

PG falls on weak profit forecase

PG's stock fell precipitously after the company said third quarter profit would fall short of analyst projections. It forecasted net income excluding extraordinary items will rise to $0.95-$1 a share, compared with average analyst estimates of 99 cents. The company is being hit by higher materials costs, which will erode profit by about $1 billion after taxes this year.

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