UPDATE: Procter & Gamble Posts Upbeat FQ4 Profit

Procter & Gamble Co (NYSE: PG ) reported a 48% drop in its fiscal fourth-quarter earnings. P&G's quarterly profit fell to $1.88 billion, or $0.64 per share, from $3.63 billion, or $1.24 per share, in the year-ago period. Excluding one-time items, its core earnings declined to $0.79 from $0.82 per