- Colgate-Palmolive ( NYSE: CL ) rose 1.4% amid some vague activist speculation for the consumer products company.
- The decline in Colgate-Palmolive stock could entice an activist to pick up some shares, Dealreporter speculated in an item earlier Wednesday. CL shares fell 3.2% on Tuesday.
- The report highlighted that activist T hird Point disclosed owning 1.98 million CL shares in its latest 2Q 13F and how the hedge fund has previously targeted consumer juggernaut Nestle in Europe.
- In addition, Dealreporter pointed out that some brokers that are often counterparties to activists picked up Colgate-Palmolive ( CL ) shares in 2Q including Morgan Stanley, Barclays and Deutsche Bank.
- Also see SA contributor Prasanna Rajagopal 's piece from earlier this month entitled "Colgate-Palmolive Stock Is Overvalued."
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Colgate-Palmolive ticks higher on vague activist speculation