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Stock Market & Financial Investment News

News Breaks
June 23, 2014
17:07 EDTAVPAvon Products announces workforce reduction of approximately 600
Avon Products announced additional actions as part of the company's ongoing turnaround efforts to return Avon to sustainable, profitable growth. These steps are related to continued efforts to right size the cost structure, improve organizational effectiveness, streamline processes to gain efficiencies and reduce cost across the organization. These actions are primarily global headcount reductions of approximately 600 positions, largely in the corporate organization and North America business unit. Total charges to be recorded as a result of these actions are expected to be approximately $45M-$50M before taxes, with approximately $40M expected to be recorded in the second quarter. The company expects these restructuring actions to result in annualized savings of approximately $50M-$55M before taxes as part of the $400M Cost Savings Initiative. In connection with the restructuring actions approved to-date associated with the $400M Cost Savings Initiative, we expect to realize annualized before-tax savings of approximately $240M-$250M.
News For AVP From The Last 14 Days
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September 9, 2014
10:10 EDTAVPOn the Fly: Analyst Downgrade Summary
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10:10 EDTAVPOn the Fly: Analyst Upgrade Summary
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09:12 EDTAVPOn The Fly: Pre-market Movers
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08:14 EDTAVPAvon Products downgraded to Neutral from Buy at Citigroup
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07:42 EDTAVPAvon Products upgraded to Buy from Neutral at BTIG
BTIG upgraded Avon to Buy with a $17 price target based on valuation, easy comps, U.S. profitability, and strategic initiatives.
September 8, 2014
17:25 EDTAVPBaker Hughes names Kimberly Ross CFO
Baker Hughes (BHI) announced that Kimberly A. Ross, has been appointed senior vice president and CFO effective October 22. Ross currently serves as executive vice president and CFO of Avon Products (AVP).
17:19 EDTAVPAvon Products announces CFO Kimberly Ross resigns, effective October 2
Avon Products announced that Kimberly Ross, Executive Vice President and CFO, has resigned effective October 2. Ross joined Avon in 2011. Robert Loughran, Vice President and Corporate Controller, will be appointed Avon's acting CFO effective October 2, while the company completes the search process for a permanent CFO.

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