procter & gamble

procter & gamble

Stocks Slide as Strong Dollar Hits General Motors, P&G

4d ago
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Another earnings bonanza was highlighting the effect of a stronger dollar on Thursday. General Motors (GM) saw revenue fall nearly 5% as sales in South America, Europe and Russia took a hit on currency exchange. The carmaker said revenue was reduced by nearly $2 billion due to the dollar. Procter & Gamble (PG) saw similar issues with revenue down just under 8%. The owner of brands Tide and Bounty said it expects full-year sales to decline 5% to 6% on currency headwinds. Multinational company 3M (MMM) reported a sales decline of more than 3% and cut 2015 earnings guidance as management expects currency challenges to persist. Subscribe to TheStreetTV on YouTube: http://t.st/TheStreetTV For more content from TheStreet visit: http://thestreet.com Check out all our videos: http://youtube.com/user/TheStreetTV Follow TheStreet on Twitter: http://twitter.com/thestreet Like TheStreet on Facebook: http://facebook.com/TheStreet Follow TheStreet on LinkedIn: http://linkedin.com/company/theStreet Follow TheStreet on Google+: http://plus.google.com/+TheStreet