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Stock Market & Financial Investment News

News Breaks
February 12, 2013
07:06 EDTAVPAvon sees comments on Venezuelan currency devaluation
The Venezuelan government has announced its intention to devalue its currency by approximately 32%. Although no official rules have been issued, the official exchange rate is expected to change from 4.30 Bolivars to the U.S. dollar to 6.30 Bolivars to the U.S. dollar, effective February 13, 2013, and the regulated SITME market will be eliminated. Based on a preliminary analysis, Avon anticipates the following impacts, both of which will be excluded for purposes of calculating adjusted Non-GAAP results during 2013: One time after tax loss estimated to be approximately $50M in the first quarter of 2013, primarily reflecting the write-down of monetary net assets and deferred tax benefits; Estimated charges of approximately $50M associated with the historical cost in U.S. dollars of non-monetary assets, such as inventory, primarily during the first half of 2013.
News For AVP From The Last 14 Days
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July 30, 2015
07:17 EDTAVPAvon Products backs FY15 modest revenue growth, consensus $7.46B
Sees an approximate 17 point negative impact on reported revenue due to foreign currency translatoin. Sees 200 basis point decline in adjusting operating margin. Sees 50 basis point decline in adjusted operating margin. The company's outlook for full-year 2015 is unchanged except for the impact of the divestiture of the Liz Earle business, which will negatively impact constant-dollar and reported revenue in the second half of 2015 by approximately 1 point.
07:15 EDTAVPAvon Products reports Q2 adjusted EPS 11c, consensus 8c
Reports Q2 revenue $1.82B, consensus $1.80B.
July 21, 2015
10:01 EDTAVPOn The Fly: Analyst Initiation Summary
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July 20, 2015
16:36 EDTAVPAvon Products initiated with a Neutral at Sterne Agee CRT
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