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Procter & Gamble (PG- 70.82) issued second-quarter earnings today of 93 cents per share, beating Street estimates by a penny per share. The company expects third-quarter earnings of 72 to74 cents per share, falling in-line with analysts' expectations.
From a technical standpoint, the consumer products manufacturer continues to be suppressed by its declining 10-day moving average. The security has not managed a daily close above this trendline since January 8.
According to Schaeffer's put/call open interest ratio (SOIR), investors continue to view the security bearishly, as puts currently outnumber calls. At 1.06, the SOIR reading is higher than 96 percent of all readings taken over the past year.