Procter & Gamble sticks by forecasts; profit meets expectations

By Jessica Wohl (Reuters) – Procter & Gamble Co is chugging along with its turnaround, posting a quarterly profit that met Wall Street's expectations and holding to its annual forecasts as the world's largest household products maker gets a lift from cost cuts and a lower tax rate. Shares of P&G fell nearly 1 percent to $79.93 in morning trading on Friday. The maker of Pampers diapers and Tide detergent is trying to reinvigorate itself under Chief Executive Officer A.G. Lafley, who returned in late May to replace Bob McDonald. …