Procter & Gamble Co. shares fell $2.62 to $88.13 Friday even though the company reiterated its previous sales and profit targets for the first quarter that ends Sept. 30.

        P&G said volume would grow in double digits, while sales will grow in high single digits. Earnings per share, it said, will grow about 15 percent compared to the same quarter last year.

        While the numbers were the same that Cincinnati-based P&G promoted earlier, the stock was pounded, driven by the general market sell-off including a warning by Philip Morris Cos. that profits would be lower than forecasted.

        Procter chief financial officer Clayton Daley is scheduled talk about the financial results at an investors conference in London next week.

— Cliff Peale

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