President Clinton Visits Proctor & Gamble’s Project in Uganda and 2 Other Dow Movers to Watch
The Proctor & Gamble Co. (NYSE:PG): Current price $81.49
President Bill Clinton and Chelsea Clinton paid a visit to Kanombe school in Kigali, Rwanda to view the P&G Purifier of Water packets in operation, which is part of Procter and Gamble’s Clinton Global Initiative Commitment to Action to provide clean drinking water to those in need of it most. The iconic company continues to deliver on its commitment to save one life each hour by the year 2020, by supplying 2 billion liters of clean drinking water annually. Clinton, meeting children who use the P&G packets to purify their water, commented, “Let me say how grateful I am to both P&G, one of the greatest companies in the world in terms of its responsibilities to society and building into their business model lifting lives of people, and to World Vision, one of the great treasures of NGOs, and the fact that they’re doing this together means a lot to me.”
Alcoa Inc. (NYSE:AA): Current price $7.98
On Friday, North Carolina officials filed a lawsuit in a long-running dispute with Alcoa, to determine who will control the water and electric power originating from the state’s second-biggest river system for the coming 50 years. In the suit, the officials said that Alcoa has no ownership rights to the bed of the Yadkin River, over which four dams were built beginning a hundred years ago. The lawsuit requests that a state court judge in Wake County decide that the state retains ownership rights to the submerged land, so North Carolina now possesses rights to an interest in the hydropower dams. A state environment agency then denied a water quality certification that the company needs for a new federal operating license, pointing to the renewed dispute over riverbed property rights.
Pfizer Inc. (NYSE:PFE): Current price $29.17
Pfizer has announced its plans to divide its generics business into a distinct unit. However, analysts and investors did not plan on the company splitting itself into three parts, rather than two. Chairman and Chief Executive Ian Read said that Pfizer will formally separate into three distinct businesses and bring emerging markets into each, with the separation of financials anticipated to start in Pfizer’s fiscal 2014. Pfizer’s generics arm, now called the “value products group,” includes brands having lost their exclusivity, and mature products expected to become generic in two years. This sector also keeps Pfizer’s biosimilars portfolio.
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