Carl Icahn disclosed a 9% stake in Clorox and said the company was deeply undervalued.
Clorox reported net income was down 82% from the previous year for the second quarter, as U.S. demand slumped and it took a $258 million write-down of the Burt's Bees business.
Deutsche Bank downgraded CLX to hold, with a $65 price target on the company's stock.
Clorox cut its sales growth forecast to 1% from 2% amid slow US growth results. The fiscal year ends June 30.
Clorox declared a regular quarterly dividend of 55 cents per share, payable February 14, 2011 to shareholders of record on January 27, 2011.
Barclays lowered its EPS estimates for CLX to $4.38 for 2010 in anticipation of softer sales. The firm maintained its $66 price target.
CLX announced it would sell the division that makes car-care brands such as Armor All and STP to private equity firm Avista Capital Partners for $780 million in cash.
Clorox declared a regular quarterly dividend of 55 cents per share on the company's common stock, payable Nov 12, 2010 to stockholders of record on Oct 27.
Due to higher taxes and lowe r margins, CLX reported flat earnings at $171 million or $1.20 per share on revenue of $1.52 billion. The company reiterated its 2011 forecast of $4.60 to $4.65 per share.
Clorox announced its Board declared a dividend of $0.55 per share on common stock, payable August 13 to shareholders of record July 28.
For Q3 ended March 31, Clorox earned $165 million, or $1.16 per share, up from $153 million or $1.08 per share a year earlier. However, the company lowered estimates for fiscal 2011 earnings to $4.50 to $4.65
Clorox said it would increase ad spending to drive consumer demand for its higher priced products as a method to coax consumers out of recessionary spending.
Clorox declared a regular quarterly dividend of 50 cents per share payable May 14 to shareholders of record on April 28, 2010.
Clorox reported net income of $110 million, up from $86 million a year prior. For the third straight quarter, the H1N1 pandemic helped drive sales of disinfectant products.
Moody's affirmed Clorox's Baa rating and raised its outlook to positive, citing increasing profitability and a conservative fiscal policy. A ratings upgrade over the next 12 months is possible if the company continues on its track.
CLX announced a regular quarterly dividend of 50 cents per share on the company's common stock, payable Feb. 12, 2010, to stockholders of record on Jan. 28, 2010.
Clorox announced it has priced the offering of $300 million aggregate principal amount of its 3.55 percent senior notes due Nov 1, 2015.
Clorox expects to benefit from increased demand for the bleach and disinfectant wipes used to slow the spread of swine flu as the U.S. braces for the disease’s resurgence.
Clorox delivered Q4 EPS of $1.20 compared to average analyst expectations of $1.19. However, the company's outlook raised some concerns as the company mentioned Walmart was not yet selling Clorox's newest detergent product in the US.
Aided by moderating resin costs, Clorox announced a better-than-expected 53% increase in quarterly profit. Its 2010 forecast fell short of expectations, however, causing its stock to drop 4%.
Clorox alleges that Timothy Bailey, a top executive who resigned April 14, has intimate knowledge of Clorox operations. SC Johnson says Bailey had not signed a noncompete agreement but will respect confidentiality.
CLX is offering a $5,000 reward and a year's supply of toilet products for information relating to the San Francisco toilet arsonist who has set ablaze more than 30 portable toilets.
CLX net income for its second quarter ending Dec 31, 2008 dropped 6.5% from the previous year, amid falling volume. Net income was $86 million, compared to $92 million a year earlier. For 2009, the company forecasts growth of 3-5%
Clorox stated that it may expedite its share repurchase since its shares plummeted early in the month.
Clorox's quarterly profits and sales were below expected estimates due to higher commodity costs and competition.
Clorox announced that for the fourth quarter of 2007 it forecasts a 3-5% growth in sales.
