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BUSINESS BRIEFS.(TO THE POINT)

Investor's Business Daily

| November 02, 2001 | COPYRIGHT 2001 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

CONSUMER

Clorox Q1 net up 7% to 45 cents

That beat views by 8 cents. Sales rose just 3% to $991 mil. Strong Glad plastic bag volume helped raise North American household products volume by 3%, but profit from the segment fell 4% due to increased ads and price cuts. Also, the firm will cut an unspecified number of jobs as it cuts costs. It now sees Q1 net of 32-35 cents, above views of 27 cents and 31 cents a year ago.

Diageo to set deal for takeover

The British drinks firm is ready to strike a rum deal to ease the way to its joint takeover of Seagram's drinks empire. Last week the FTC blocked its bid, arguing that the deal would create a duopoly in the rum market between Diageo and Bacardi. Diageo hopes to sell its Malibu rum to Seagram bid partner Pernod Ricard to settle concerns. Diageo recently completed ...

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