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February 13, 2014
07:07 EDTAVPAvon Products reports Q4 adjusted EPS 34c, consensus 30c
Reports Q4 revenue $2.67B, consensus $2.75B
News For AVP From The Last 14 Days
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November 24, 2015
16:26 EDTAVPOn The Fly: Top stock stories for Tuesday
Stocks began the session in negative territory as events at home and abroad escalated concerns. The downing of a Russian plane by Turkey and a worldwide travel alert by the U.S. State Department gave investors pause when the market opened, though the averages pared their losses as the European averages closed, eventually moving into positive territory in afternoon trading. The market moved in a fairly narrow range once it made it to positive ground, but given the geopolitical events, the bulls will have to consider the day's action a victory. ECONOMIC EVENTS: In the U.S., the estimate of third quarter GDP growth was boosted to 2.1% from 1.5%, matching estimates. Personal consumption growth was estimated at 3.0% in the second look, versus expectations for an increase of 3.2%. The S&P/Case-Shiller 20-city composite home price index was up a seasonally adjusted 0.6% month over month in September, versus expectations for an increase of 0.3%. The Conference Board's consumer confidence reading for November came in at 90.4, missing the consensus forecast of 99.5. COMPANY NEWS: Carl Icahn revealed last night that he has taken a 7.13% stake in Xerox (XRX) and may seek positions on the board of the company. Research firm Piper Jaffray believes that Icahn's involvement in the company can amplify the company's review and boost the stock, but that was not the case at today, as Xerox shares slipped 1.3% to $10.61 following the disclosure... In other news from a high-profile activist investor, Bill Ackman has put more funds behind his big bet in Valeant Pharmaceuticals (VRX), as filings show that Pershing Square raised its stake in the embattled drugmaker to 9.9%. The news didn't do all that much for Valeant shares, however, as the stock was unchanged from where it closed yesterday at $87.41. MAJOR MOVERS: Among the notable gainers was SunEdison (SUNE), which surged $1.12, or 37.33%, to $4.12 after entering into an agreement to sell TerraForm Global (GLBL) a series of projects located in India for the aggregate equity consideration of $231M, subject to purchase price adjustments. SunEdison utilized a portion of the proceeds from the sale to partially pay down its margin loan, said the company, which JPMorgan analyst Paul Coster called a positive for both SunEdison and TerraForm Power (TERP). Also higher was Avon Products (AVP), which gained 45c, or 15.94%, to $3.31 after Citi analyst Wendy Nicholson upgraded the stock to Buy after visiting the company's operations in Brazil. Among the noteworthy losers was Aduro Biotech (ADRO), which fell $5.18, or 16.07%, to $27.05 after disclosing that a Grade 3 serious adverse event, a single case of investigator assessed listeriosis, has been reported for a patient being treated with CRS-207 and GVAX Pancreas. Also lower were shares of Brocade (BRCD), which sunk 78c, or 7.73%, to $9.31 after the networking equipment supplier's outlook for the first quarter trailed analysts' consensus estimates. INDEXES: The Dow rose 19.51, or 0.11%, to 17,812.19, the Nasdaq gained 0.33, or 0.01%, to 5,102.81, and the S&P 500 advanced 2.55, or 0.12%, to 2,089.14.
10:00 EDTAVPOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Avon Products (AVP) upgraded to Buy from Neutral at Citi... Box (BOX) upgraded to Buy from Neutral at BofA/Merrill... Daimler AG (DDAIF) upgraded to Buy from Neutral at UBS... Emerge Energy (EMES) upgraded on amended credit deal at Stifel... Fairmount Santrol (FMSA) upgraded to Hold from Underperform at Jefferies... IAMGOLD (IAG) upgraded to Hold from Reduce at HSBC... Kinross Gold (KGC) upgraded on acquisitions at RBC Capital... Lowe's (LOW) upgraded to Overweight from Neutral at Atlantic Equities... Nimble Storage (NMBL) upgraded on valuation at DA Davidson... Resolute Energy (REN) upgraded to Equalweight from Underweight at Capital One... Schnitzer Steel (SCHN) upgraded to Equal Weight from Underweight at Morgan Stanley... Webster Financial (WBS) upgraded to Overweight from Neutral at JPMorgan.
09:24 EDTAVPOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Baozun (BZUN), up 7.3%... Analog Devices (ADI), up 4.3%. ALSO HIGHER: Boulder Brands (BDBD), up 8.4% after Pinnacle Foods (PF) announced that it will acquire the company for $11.00 per share... Sunedison (SUNE), up 18% after the Economic Times reported that the company plans place 400MW of upcoming solar capacity on sale... Avon Products (AVP), up 7.5% after being upgraded to Buy from Neutral at Citi... Valeant (VRX), up 2.1% after Pershing Square increases stake in the company to 9.9%... Xerox (XRX), up 2.3% after Carl Icahn reported a 7.13% stake in the company. DOWN AFTER EARNINGS: Signet Jewelers (SIG), down 6.2%... Tiffany (TIF), down 2.9%... Brocade Communications (BRCD), down 7.2%. ALSO LOWER: UniPixel (UNXL), down 44.6% after the company prices a common stock and warrant offering... U.S. Steel (X), down 4% after announcing that it will idle its Granite City Works operations.
06:24 EDTAVPAvon Products upgraded to Buy from Neutral at Citi
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