SEC Formalizes Catalina Investigation
Catalina Marketing last week said the SEC issued a formal order in its investigation of aspects of its revenue-recognition practices. The St. Petersburg, Fla., in-store-marketing company said it believes the inquiry is focused on its Catalina Health Resource division.
P&G Forecasts Greater Earnings
Shares in Procter & Gamble hit a four-year high last week, trading at about $106 after the Cincinnati consumer-products company said it expects earnings in the current quarter to exceed analysts' estimates by 1-2 cents a share. P&G also revealed a 2-for-1 stock split and dividend increase. The company said the earnings uptick is being driven by continued strong organic volume growth.