Colgate Shares Down 2% On Sales, Margin Pressure

SAN FRANCISCO -- Colgate-Palmolive shares slipped 2% to $78.18 after the toothpaste maker's fourth-quarter sales of $3.98 billion fell shy of analyst estimates. Colgate's profit fell 1% to $624 million, squeezed by higher commodity costs and money paid to promote its products. Colgate said its global market share in toothpaste and manual toothbrushes ended 2010 at record levels. Its toothpaste share rose to 44.2%, while toothbrush shares increased to 31.6%. Colgate said it plans to step up advertising dollars in 2011 to support product launches.