Kimberly-Clark Corp.’s stock rose 3% Tuesday to propel it toward a one-year high after the parent of Kleenex, Huggies and Cottonelle brands posted better-than-expected quarterly earnings and raised its full-year guidance.
The company raised prices by 10% for a second straight quarter, which helped drive gross margins wider by 340 basis points. Rival Procter & Gamble also raised its prices by 10% in its latest quarter.
“While…
