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Stock Market & Financial Investment News

News Breaks
February 21, 2014
05:10 EDTPEP, AVPStocks with implied volatility movement; AVP PEP
Stocks with implied volatility movement; Avon Products (AVP) 38, PepsiCo (PEP) 16 according to iVolatility.
News For AVP;PEP From The Last 14 Days
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February 11, 2016
12:27 EDTAVPOn The Fly: Top stock stories at midday
U.S. stocks are having another awful session as markets around the world continue to slide. The culprits are many: the prospects of slower global growth, the diminished power of central banks to prop up the markets, lower oil prices, renewed concern over the European banking system and the deleterious effect of negative interest rates are all being pointed to as contributors. Adding another dagger to the Dow is the slide in Boeing (BA), which is down nearly 10% following a report that the SEC is looking into its accounting practices. The Dow is leading the market lower with losses of about 2%, but the Nasdaq and S&P are sharply lower as well. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped to 269,000 last week, versus expectations for 280,000 first-time claims. Federal Reserve Chair Janet Yellen is back on Capitol Hill this morning, this time in front of the Senate after giving testimony yesterday to members of the House of Representatives. In her testimony yesterday, Yellen said she was not certain whether she had the legal authority to cut rates into negative territory. However, other central banks around the world have recently been doing just that, with Sweden's Riksbank the latest. Sweden's central bank surprised analysts by cutting its main repo rate to minus 0.5% from minus 0.35%. In Asia, Hong Kong markets re-opened after being closed in the first three days of the week for the New Year holiday and closed deeply in the red, catching up with recent global stock weakness. COMPANY NEWS: Shares of Cisco (CSCO) advanced 9% after the company beat expectations for both sales and earnings, raised its dividend by 24% and approved a $15B increase to its stock repurchase program. The stock was virtually the only bright spot for the Dow, which saw almost every other bluechip member slide, led by laggard Boeing after Bloomberg said the SEC may investigate its accounting and projections for its 787 Dreamliner and the 747 programs... The shares of Twitter (TWTR) are falling and hit a new 52-week low earlier in the session after the company reported that its user base was flat last quarter. Research firm Pacific Crest responded to the news by downgrading the stock, with analyst Evan Wilson saying the stock may fall to as low as $11 per share as the "hope trade" ends... Tesla (TSLA) unexpectedly reported sharp losses for its fourth quarter, but its stock rallied 7% after the electric carmaker also projected that it will deliver 80,000-90,000 vehicles in 2016. MAJOR MOVERS: Among the noteworthy gainers was Expedia (EXPE), which rallied 10% following the company's Q4 earnings report. Also higher were j2 Global (JCOM) and TripAdvisor (TRIP), which gained 16% and 17.5%, respectively, after reporting quarterly earnings. Among the notable losers was Mylan (MYL), which fell 18% after it reported quarterly earnings and announced it would buy Meda Aktiebolag for $9.9B. Also lower were Incyte (INCY), which fell 18.5% after the company reported earnings and said it was discontinuing studies of ruxolitinib for pancreatic cancer. Avon Products (AVP) and Monster Worldwide (MWW), slid 14% and 31%, respectively, after their own quarterly reports. INDEXES: Near midday, the Dow was down 351.43, or 2.21%, to 15,563.31, the Nasdaq was down 54.49, or 1.27%, to 4,229.10, and the S&P 500 was down 33.49, or 1.81%, to 1,818.37.
10:33 EDTAVPAvon dives after reporting fourth quarter losses
Shares of Avon Products (AVP) are plunging after the company reported fourth quarter results that fell well below analysts' estimates. Avon manufactures and markets beauty products such as fragrances and cosmetics, and also offers jewelry and accessories. WHAT'S NEW: Avon this morning said its adjusted continuing operations earnings per share were breakeven, compared with 21c in the year-ago period and analysts' consensus estimate of 8c. Including items, Avon's loss from continuing operations for Q4 was 70c per share. Revenue for the quarter came in at $1.6B, below analysts' estimate of $1.82B. Total revenue was down 20%, but up 3% in constant dollars excluding the divestiture of Liz Earle. Excluding Liz Earle and certain Brazil items, the company said constant dollar revenue would have been up about 6%. Avon said active representatives were up 2% year over year, but that average order was down 1% and was negatively impacted due to the Brazil value added tax credits that did not recur in 2015, as well as the Brazil Industrial Production Tax in 2015 and the Liz Earle divestiture. Avon also said Q4 beauty sales fell 21%, but were up 2% in constant dollars. COMMENTARY: Looking ahead to 2016, Avon said on its earnings conference call that it expects 1%-2% active representative growth for the company. Avon also expects Brazil to be a "challenging" environment, but said it believes Brazil will be "relatively flat with ups and downs" over the course of the year. Further, Avon expects Mexico to deliver "solid" performance, the U.K. will deliver flat to slightly positive growth by year-end and that Russia will continue to grow. The company also expects to have a resolution for its China business during 2016. Avon said a specific challenge in China has been its business model and noted that it is looking at strategic partnerships. Avon said it expects to take "significant" price increases moving forward. Lastly, Avon said it will execute more cost take out in 2016 of $70M. INVESTOR DAY AND HEADCOUNT REDUCTION: Avon held its investor day in January and said it expects to cut $350M in costs over the next three years. At the time, CEO Sheri McCoy said the company would look at "all alternatives" for its China division, which represents about 1% of total sales. Following Avon's investor day, Piper Jaffray analyst Stephanie Wissink upgraded Avon Products to Overweight from Neutral and said the company offered a viable strategy to modernize the company. Earlier in the month, Avon disclosed in a regulatory filing that it would cut headcount related to an information technology infrastructure outsourcing initiative. Avon said it would record total charges of about $30M before taxes. PRICE ACTION: Avon Products is down 15% to $2.75 in morning trading. Shares are down more than 65% over the last 12 months.
09:21 EDTPEPOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Expedia (EXPE), up 8.4%... Tripadvisor (TRIP), up 10.8%... Cisco (CSCO), up 6%... LendingClub (LC), up 8.8%... Tesla (TSLA), up 3.5%... Shire (SHPG), up 3.1%. ALSO HIGHER: 3D Systems (DDD), up 13.4% after reporting preliminary Q4 revenue. DOWN AFTER EARNINGS: Flowers Foods (FLO), down 17.7%... Incyte (INCY), down 14.3%... LivePerson (LPSN), down 16.7%... Twitter (TWTR), down 5.5%... Mylan (MYL), down 12.5%... PepsiCo (PEP), down marginally. ALSO LOWER: Visa (V), down 3% after being downgraded to Neutral from Buy at BofA/Merrill... Mastercard (MA), down 3% after being downgraded to Neutral from Buy at BofA/Merrill.
08:49 EDTPEPPepsiCo CEO says 2016 targets are 'appropriately aggressive'
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08:19 EDTPEPPepsiCo CEO sees 'many macro challenges' faced this year continuing
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06:49 EDTAVPAvon Products reports Q4 adjusted EPS 0c, consensus 8c
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06:36 EDTPEPPepsiCo raises annual dividend to $3.01 per share from $2.81 per share
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06:35 EDTPEPPepsiCo sees FY16 core EPS $4.66, consensus $4.76
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06:32 EDTPEPPepsiCo reports Q4 Core EPS $1.09, consensus $1.06
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05:44 EDTPEPOptions expected to be active
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February 10, 2016
14:32 EDTAVP, PEPNotable companies reporting before tomorrow's open
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08:25 EDTPEPPepsiCo volatility elevated into Q4 and outlook
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06:46 EDTPEPCoca-Cola battling for 'zero' trademark rights, WSJ says
The U.S. PTO is preparing to make a ruling over Coca-Cola's (KO) attempt to trademark the rights to "zero" for its beverages almost 13 years after the beverage company first tried to register it in the U.S., the Wall Street Journal reports. The move triggered a 2007 challenge from rival Dr Pepper Snapple Group (DPS), which also has a beverage called Zero, the report says. A ruling in the U.S. could come before summer, the report says, citing people familiar with the case. Canada rejected Coca-Cola's attempt last month after rival PepsiCo (PEP) opposed the move, the report notes. Reference Link
February 7, 2016
16:48 EDTPEPPepsiCo pursued major stake in Chobani, Bloomberg says
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January 29, 2016
11:02 EDTPEPPepsiCo unveils new hospitality venture with launch of Kola House
Pepsi (PEP) announces its plans to launch Kola House, the first experimental kola bar, restaurant, lounge and event space to open in the U.S. market. This first-of-its-kind hospitality venture is set to open its doors in spring 2016, with its flagship location in New York City's Meatpacking District. The flagship location will also serve as an event space for pop culture moments in music, art, style, film, sports and more. Pepsi is leveraging its partnership with Live Nation (LYV) to help build out a special music series, Live at the Kola House, which will serve as tent pole moments throughout its year-long programming. Each of the intimate, stripped down performances will bring fans up-close to the artists both visually and acoustically for the once-in-a-lifetime shows.
06:07 EDTPEPPepsi making foray into restaurant business with Kola House, NY Times says
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