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Stock Market & Financial Investment News

News Breaks
June 28, 2013
05:57 EDTDEO, PDRDYDiageo takes on Missouri's 1930s wholesaler rules, WSJ reports
The "Missouri Liquor Wars," a fight between the world's biggest liquor makers and a family-owned wholesaler, could change the way spirits are sold in the U.S. and undo one of the last vestiges of the 1930s Prohibition, reports the Wall Street Journal..The issue is post-Prohibition-era regulations in about a 12 U.S. states that can lock in liquor producers with specific wholesalers, making it difficult to consolidate middlemen or change distributors. Diageo (DEO), Bacardi Ltd., Pernod Ricard (PDRDY) and their Washington lobby say thos laws artificially prop up local wholesalers and drive up distribution costs. They want the right to consolidate their wholesalers. Reference Link
News For DEO;PDRDY From The Last 14 Days
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April 20, 2015
10:00 EDTPDRDYOn The Fly: Analyst Upgrade Summary
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05:39 EDTPDRDYPernod Ricard upgraded to Outperform from Neutral at Credit Suisse
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April 16, 2015
09:11 EDTDEODiageo reports Q3 sales down 0.7%
Diageo reports that in the nine months ended March 31, net sales declined 0.3% on an organic basis and were down 0.7% in the quarter, with volume down 1.7% in the nine month period and 0.8% in the quarter. In the nine month period reported net sales grew 4.6%. Acquisitions, principally United Spirits Limited, contributed GBP700M, partially offset by an adverse impact of currency movements of GBP298M and a reduction of GBP28M due to disposals. CEO Ivan Menezes commented: "Our performance in the quarter reflects continued tough conditions in the emerging markets and subdued consumer demand in some developed markets. However it also reflects the actions we have taken to ensure we are building a stronger business. Of key importance is that depletions continue to outpace shipments as we embed our sell out culture."

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