Diamond Foods (DMND) Slightly Higher Following P&G Comments on Pringles Sale

January 27, 2012 10:11 AM EST
Shares of Diamond Foods, Inc. (Nasdaq: DMND) are seeing a little upside mid-day following comments from Procter & Gamble (NYSE: PG) on its earnings call about the delayed Pringles sales.

Procter & Gamble is assuming that it will close the Pringles sale this fiscal year. They are still commented to selling the brand.

Procter & Gamble's Pringles sale to Diamond was delayed due to questions about the accounting of strange payments to walnut growers at Diamond, which the SEC and company are now investigating. The company's internal investigation is expected to be completed by mid-February.

Shares of DMND last traded at $38.14, up 1.5%.


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