GILLETTE'S RAZOR BURN
So much for Gillette's earnings shortfall. On Aug. 15, it led the year's worst one-day stock market rout and dropped 4.6%, to $85.88, after Gillette told analysts '97 profits would be $3 a share, 7 cents less than expected. The slide continued on Aug. 18, to $83.06. But on Aug. 19, Gillette reversed course. Merrill Lynch analyst Deepak Raj says that although Germans and Japanese are buying fewer coffee makers from Gillette's Braun unit, earnings will improve when a new shaving system arrives.
EDITED BY KELLEY HOLLAND
Updated Aug. 21, 1997 by bwwebmaster
Copyright 1997, Bloomberg L.P.