Procter & Gamble Co. (NYSE: PG) is a disappointment this morning. The consumer products behemoth gave earnings saying that quarterly acquire fell 18% and said it expects slow sales and choppy earnings to continue for the near future. Earnings were $2.5 1000000000 or $0.80 EPS and estimates from composer Reuters were $0.79 EPS. Revenue fell 11% to $18.7 1000000000 vs. $19.4 1000000000 estimates. Next lodge was put at $0.95 to $1.00 EPS against estimates of $1.00 EPS and 2009 was put at the same prior guidance of $3.65 to $3.80 EPS vs. $3.76 estimates. Because of the tone and because of weak sales, shares are downbound 3.8% at $53.36 on most 350,000 shares pre-market as of 8:42 AM EST. Average volume is over 12 million shares, but that should easily be hit today.  We would watch for secondary state in Colgate-Palmolive Co. (NYSE: CL) based upon this report. -JON OGG
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