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PG

Procter & Gamble

$88.35

-0.31 (-0.35%)

, COTY

Coty

$23.98

0.19 (0.80%)

09:03
10/05/16
10/05
09:03
10/05/16
09:03

P&G reports final proration factor for shares tendered in separation

The Procter & Gamble Company (PG) announced that the final proration factor of 15.0123% for its exchange offer in connection with the separation of P&G's global fine fragrances, salon professional, cosmetics and retail hair color businesses, along with select hair styling brands. A total of 690,798,524 shares of P&G common stock were validly tendered in exchange for 409,726,299 shares of common stock of Galleria Co., the corporation formed to hold P&G Specialty Beauty Brands. The exchange offer successfully closed on September 30, 2016. Galleria Co. was formerly a wholly owned subsidiary of P&G. On October 1, 2016, pursuant to the previously announced merger, Galleria Co. merged with and into a subsidiary of Coty Inc. (COTY) and became a wholly owned subsidiary of Coty. Pursuant to the exchange offer and based on the final count by the exchange agent, a total of 690,798,524 shares of P&G common stock were tendered prior to the expiration of the exchange offer, including 1,487,419 shares of P&G common stock tendered by odd-lot shareholders not subject to proration, whose shares were fully accepted in the exchange offer. All remaining tendered shares of P&G common stock were accepted in the exchange offer on a pro rata basis using the final proration factor of 15.0123%. Shares of P&G common stock tendered but not exchanged due to proration will be returned to tendering shareholders.

PG

Procter & Gamble

$88.35

-0.31 (-0.35%)

COTY

Coty

$23.98

0.19 (0.80%)

  • 11

    Oct

  • 25

    Oct

PG Procter & Gamble
$88.35

-0.31 (-0.35%)

07/22/16
STFL
07/22/16
NO CHANGE
STFL
Procter & Gamble price target raised to $92 from $85 at Stifel
Stifel expects Procter & Gamble's stock to be boosted by multiple expansion, driven by improving organic sales in fiscal 2017. The firm says that the company's margins should continue to expand. It believes that the stock's valuation is attractive, and it keeps a Buy rating on the shares.
08/15/16
RILY
08/15/16
UPGRADE
Target $105
RILY
Buy
Procter & Gamble upgraded to Buy from Neutral at B. Riley
B. Riley analyst Linda Bolton Weiser upgraded Procter & Gamble to Buy saying she left a meeting with new CEO David Taylor with greater confidence in the company's improved organic sales growth. The analyst expects Procter & Gamble's multiple to continue expanding and she upped her price target for the shares to $105 from $74.
08/15/16
08/15/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Procter & Gamble (PG) upgraded to Buy from Neutral at B. Riley with analyst Linda Bolton Weiser saying she left a meeting with new Chief Executive Officer David Taylor with greater confidence in the company's improved organic sales growth. 2. Valeant (VRX) upgraded to Neutral from Underperform at Mizuho. 3. AAC Holdings (AAC) upgraded to Strong Buy from Outperform at Raymond James with analyst John Ransom ting favorable valuation, still high short interest, and good visibility on 2017 EBITDA, which is $8M above Street estimates. 4. American Eagle (AEO) upgraded to Buy from Hold at Deutsche Bank with analyst Tiffany Kanaga saying denim strength should drive upside to estimates in the second quarter while easier compares should keep the momentum going in the second half of 2016. 5. Bright Horizons (BFAM) upgraded to Overweight from Neutral at JPMorgan with analyst Andrew Steinerman saying the company is entering a period of above-average margin expansion. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/26/16
JEFF
08/26/16
NO CHANGE
Target $75
JEFF
Hold
Jefferies cuts Edgewell Personal Care target citing Harry's rollout at Target
Jefferies analyst Kevin Grundy lowered his price target on Edgewell Personal Care (EPC) to $75 from $77 after Harry's shave club offerings launched nationwide at Target (TGT), saying his store checks revealed strong in-store execution for the roll-out. Grundy thinks soon-to-be acquired Dollar Shave Club will also to push into retail and expects other retailers, perhaps including Walmart (WMT), to follow Target's lead and offer shelf space to the "trendy" shave club brands. While saying this is also a risk to Procter & Gamble (PG), Grundy keeps his Buy rating and $98 price target on P&G shares, saying increased levels of investment in U.S. shaving are already factored in the company's guidance.
COTY Coty
$23.98

0.19 (0.80%)

09/29/16
RILY
09/29/16
UPGRADE
Target $23.25
RILY
Neutral
Coty upgraded to Neutral from Sell at B. Riley
B. Riley analyst Linda Bolton Weiser upgraded Coty to Neutral and raised her price target for the shares to $23.25 from $21.50. The stock is closer to fair value following the 20% pullback, Weiser tells investors in a research note.
10/03/16
BOFA
10/03/16
UPGRADE
Target $28
BOFA
Buy
Coty upgraded to Buy from Neutral at BofA/Merrill
BofA/Merrill analyst Olivia Tong upgraded Coty to Buy with a $28 price target citing valuation. The analyst believes Coty is at the beginning of a potential transformation with the pending closure of the P&G Beauty deal this week that could bring increased scale as well as a more targeted operational structure.
10/03/16
PIPR
10/03/16
NO CHANGE
PIPR
Chinese tax changes modestly positive for cosmetics makers, says Piper Jaffray
Piper Jaffray analyst Stephanie Wissink noted that the Chinese Ministry of Finance has reduced or eliminated the consumption tax on all cosmetic products as of October 1 to stimulate demand and growth, which she views as a modest positive for Estee Lauder (EL), Avon Products (AVP) and Coty (COTY). Of the three, Estee Lauder has the highest exposure to China, which makes up about 10% of its annual revenues, Wissink added.
10/03/16
10/03/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Dow Chemical (DOW) and DuPont (DD) were upgraded to Buy from Neutral at Citi with analyst P.J. Juvekar citing he opportunity presented by the proposed merger. 2. Freeport McMoRan (FCX), Barrick Gold (ABX), and Pan American Silver (PAAS) were upgraded to Buy from Hold at Deutsche Bank. 3. LogMeln (LOGM) upgraded to Overweight from Equal Weight at Barclays with analyst Raimo Lenschow saying the pending merger with Citrix's (CTXS) divested GoTo assets creates a "great new opportunity." 4. Halliburton (HAL) upgraded to Buy from Hold at Societe General. 5. Coty (COTY) upgraded to Buy from Neutral at BofA/Merrill with analyst Olivia Tong saying she believes Coty is at the beginning of a potential transformation with the pending closure of the P&G Beauty deal this week that could bring increased scale as well as a more targeted operational structure. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

KMB

Kimberly-Clark

$116.09

0.6 (0.52%)

11:26
01/22/18
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11:26
Technical Analysis
Technical Earnings Preview: Kimberly-Clark in downtrend before news »

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CELG

Celgene

$102.65

0.93 (0.91%)

, JUNO

Juno Therapeutics

$67.81

-3.56 (-4.99%)

11:25
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Recommendations
Celgene, Juno Therapeutics, Gilead analyst commentary  »

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CELG

Celgene

$102.65

0.93 (0.91%)

JUNO

Juno Therapeutics

$67.81

-3.56 (-4.99%)

GILD

Gilead

$80.98

-0.19 (-0.23%)

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MOS

Mosaic

$26.40

-0.135 (-0.51%)

11:25
01/22/18
01/22
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11:25
Options
Mosaic call volume above normal and directionally bullish »

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  • 20

    Feb

LRAD

LRAD Corporation

$2.28

0.02 (0.88%)

11:25
01/22/18
01/22
11:25
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11:25
Conference/Events
LRAD Corporation to ho ld a conference call »

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  • 22

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11:25
01/22/18
01/22
11:25
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11:25
Conference/Events
Board of Governors of the Federal Reserve System holds a closed meeting »

The Board of Governors of…

MCO

Moody's

$158.72

-0.46 (-0.29%)

11:25
01/22/18
01/22
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11:25
Conference/Events
Moody's management to meet with RBC Capital »

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  • 22

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  • 09

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$NSD

NASDAQ Market Internals

11:17
01/22/18
01/22
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11:17
Technical Analysis
NASDAQ market internals summary »

Volume is above average…

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PG

Procter & Gamble

$91.66

0.59 (0.65%)

11:16
01/22/18
01/22
11:16
01/22/18
11:16
Technical Analysis
Technical Earnings Preview: Procter & Gamble near life highs before news »

The stock is not far from…

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  • 23

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$NYE

NYSE Market Internals

11:16
01/22/18
01/22
11:16
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11:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

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CLR

Continental Resources

$55.80

0.63 (1.14%)

11:15
01/22/18
01/22
11:15
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11:15
Options
Continental Resources put volume heavy and directionally bearish »

Bearish flow noted in…

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11:15
01/22/18
01/22
11:15
01/22/18
11:15
General news
Treasury announced a $35 B 4-week bill offering for Tuesday »

Treasury announced a $35…

11:15
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General news
Breaking General news story  »

3-Month Bill Auction to…

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General news
Breaking General news story  »

6-Month Bill Auction to…

LQ

La Quinta

$20.32

0.135 (0.67%)

, WYN

Wyndham

$126.65

-0.34 (-0.27%)

11:13
01/22/18
01/22
11:13
01/22/18
11:13
Downgrade
La Quinta, Wyndham rating change  »

La Quinta downgraded to…

LQ

La Quinta

$20.32

0.135 (0.67%)

WYN

Wyndham

$126.65

-0.34 (-0.27%)

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  • 14

    Feb

AAPL

Apple

$178.46

-0.8 (-0.45%)

11:10
01/22/18
01/22
11:10
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11:10
Periodicals
KGI's Kuo says Apple will discontinue first-generation iPhone X, MacRumors says »

Apple will discontinue…

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  • 01

    Feb

11:04
01/22/18
01/22
11:04
01/22/18
11:04
General news
4-Week Bill Announcement Offering Amount data reported »

4-Week Bill Announcement…

ZIOP

Ziopharm

$4.28

-0.08 (-1.83%)

11:02
01/22/18
01/22
11:02
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11:02
Periodicals
Ziopharm rise due to 'stupid money' inflow, Feuerstein says »

Adam Feuerstein tweeted:…

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LQ

La Quinta

$20.35

0.17 (0.84%)

11:02
01/22/18
01/22
11:02
01/22/18
11:02
Downgrade
La Quinta rating change  »

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NWBI

Northwest Bancshares

$17.09

0.24 (1.42%)

11:01
01/22/18
01/22
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11:01
Earnings
Northwest Bancshares reports Q4 EPS 22c, consensus 22c »

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AKS

AK Steel

$6.10

-0.34 (-5.28%)

11:01
01/22/18
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Hot Stocks
AK Steel: Ladle at Middletown Works caster malfunctioned, no injuries reported »

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  • 30

    Jan

XLU

Utilities SPDR

$50.47

0.48 (0.96%)

11:00
01/22/18
01/22
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11:00
Options
Renewed interest in SPDR Utility Fund Mar 49 puts »

Renewed interest in SPDR…

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NWBI

Northwest Bancshares

$17.09

0.24 (1.42%)

10:59
01/22/18
01/22
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10:59
Hot Stocks
Northwest Bancshares boosts quarterly dividend 6.25% to 17c per share »

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BCS

Barclays

$11.61

0.4715 (4.23%)

10:56
01/22/18
01/22
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10:56
Hot Stocks
Barclays: Nehren as head of statistical modeling & development, Equities »

Barclays announces the…

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ALGN

Align Technology

$269.46

-1.24 (-0.46%)

10:55
01/22/18
01/22
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10:55
Options
Align Technology put volume heavy and directionally bearish »

Bearish flow noted in…

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  • 30

    Jan

HPQ

HP Inc.

$23.78

0.075 (0.32%)

10:55
01/22/18
01/22
10:55
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10:55
Conference/Events
HP Inc. to hold a webcast »

Global Head of…

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  • 22

    Jan

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