P&G’s initial decline had nothing to do with earnings. The market later agreed

In this photo illustration, Pantene and Head & Shoulders hair products are displayed on July 28, 2023 in San Anselmo, California. 
Justin Sullivan | Getty Images

Procter & Gamble shares were down sharply early in Friday’s session after the consumer products giant reported a mixed quarter. We viewed the action as a bit of profit-taking — and not a reflection of the results. The stock entered the session on a four-day winning streak while the broader market declined. Late Friday, as the Dow went into the green, so did P&G stock.

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