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Colgate-Palmolive told Fox Business Network that the company doesn't comment on market rumors. Full story at http://www.telegraph.co.uk/finance/markets/marketreport/6600366/ Reckitt-merger-with-Colgate-said-to-be-close.html -Dow Jones Newswires; 212-416-2900
UBS raises Reckitt Benckiser target to 3300p from 3000p, stays at buy BFN Story provided by Business Financial Newswire
Results have been mixed. Reckitt Benckiser demonstrated again that it lives in a different realm from other companies. The detergent maker posted profits and dividends up by a third and raised its estimates for both sales and earnings growth for the full year. Half-year profits rose by 40% and the dividend by 34%.
Reckitt Benckiser upped to outperform from market-perform at Credit Suisse, target price 3200p.
There should hopefully start to be a rise in share price as overall this company is in good shape.
There's a line of resistence on the monthly chart, which has been touched three times and bounced straight back down. Looking at momentum indicators like Stochastic, there is a sell signal fund suggesting the next move will be down. We already have had a sell signal on the MACD again indicating that the next move will be down. So all of these things combined, the next price move on Reckitt Benckiser is more likely to be down than up. You can watch a video of the charts described above look for "FTSE stocks - one to buy and one to sell" at http://w3.cantos.com/charts
"On a brighter note, household goods and personal care products producer Reckitt Benckiser announced full year results slightly ahead of expectations and cheered shareholders with a 60% hike in the final dividend. Full year pre-tax profit of £1.47bn was up from £1.21bn the year before and ahead of market expectations of £1.45bn" Too high - worth a short punt.
great defensive play this. Have held for years. Now amazing figures released:- LONDON (Thomson Financial) - Reckitt Benckiser PLC said its first-quarter pretax profit rose 58 pct to 236 mln stg on actual exchange basis and raised its earnings and revenue targets for 2007. The maker of household cleaning goods said net profit was 179 mln stg, up 63 pct on actual exchange basis and 36 pct on constant exchange basis. Its total net revenues rose 8 pct to 1.26 bln stg, and underlying net revenues rose went up to 1.12 bln stg from 1.09 bln stg. 'Reckitt Benckiser had an excellent first quarter with very good growth on both the base business (10 pct like-for-like) and the BHI business acquired in early 2006,' chief executive Bart Becht said. Growth has come across all geographies and all categories, supported by further increases in marketing investment, Becht added. It said BHI synergies contributed around 13 mln stg additional profit and net revenues of 139 mln stg in the quarter. Based on these strong results and momentum, it raised its 2007 net income growth forecast from low double digits to mid teens percentage and net revenue growth from at least 6 pct to between 7 pct and 8 pct at constant exchange.