Home / Street Sector / Stocks Retreat on New Development: ITC Holdings (NYSE:ITC), The Procter & Gamble (NYSE:PG)

Stocks Retreat on New Development: ITC Holdings (NYSE:ITC), The Procter & Gamble (NYSE:PG)

ITC Holdings Corp. (NYSE:ITC) [Trend Analysis] attempts to attain leading position in street, Shares price changes as it 0.88% to close at $45.98 with the total traded volume of 1.29 Million shares. Fortis Inc. (FTS) together with ITC Holdings Corp. (ITC) reported that Kansas Corporation Commission has voted to approve their application authorizing Fortis to proceed with its acquisition of ITC. This authorization completes all required regulatory authorizations for the acquisition. “We are happy with the authorization from the KCC, and look forward to continuing to serve the transmission needs of the State of Kansas,” stated Barry Perry, President and Chief Executive Officer of Fortis. “Fortis appreciates the work by all federal and state regulators who have considered the Fortis acquisition of ITC.” The firm has institutional ownership of 86.20%, while insider ownership included 1.70%. Its price to sales ratio ended at 6.63. ITC attains analyst recommendation of 3.00 with week performance of 1.12%.

The Procter & Gamble Firm (NYSE:PG) [Trend Analysis] increased reacts as active mover, shares an advance 0.03% to traded at $88.57 and the percentage gap among open changing to regular change was 0.23%. Procter & Gamble Co.’s top executives defended $11.4 billion split-off of CoverGirl cosmetics and 40 other brands to Coty Inc. even though the accord that closed this month was valued at $1.1 billion less than had been projected previous year.

“This was actually a very good accord,” CEO David Taylor stated in response to a question from the audience during the yearly meeting of shareholders (NYSE: PG) at the firm’s headquarters in downtown Cincinnati. “The way the price was reported and the way it turns out has to do with the way the contract was written and the way the accord was structured.” The firm’s current ratio calculated as 1.10 for the most recent quarter. The firm past twelve months price to sales ratio was 3.62 and price to cash ratio remained 17.70. As far as the returns are concern, the return on equity was recorded as 17.40% and return on investment was 11.60% while its return on asset stayed at 8.00%. The firm has total debt to equity ratio measured as 0.54.


About Gerard Bergeron

Gerard Bergeron covers Bio-pharmacy or healthcare sector Press Releases news updates. He has extensive three year of experience in content writing as freelance writer. He performs analysis of Healthcare Companies and provides worthy information for investor community. He is an experienced writer with a precise grasp of the English language and a clear, compelling writing style.

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