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Avon Products, Inc. (AVP)

  • Apr. 10, 2012, 2:43 PM
    Caris says a higher bid for Avon (AVP -1.6%) from Coty is even more unlikely with a new CEO, but the firm still finds plenty of reasons to “remain constructive” on AVP shares, as “the long-term earnings and cash flow upside from operational improvement under a new CEO is substantial." Shares remain below last week's $23.25/share offer.
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  • Apr. 9, 2012, 2:49 PM
    Avon (AVP -3%) shares are sliding, not because new CEO Sherilyn McCoy isn't a worthy choice - she was highly regarded at J&J - but the timing of the appointment a week after Coty's $10B takeover offer was turned down is "a clear sign" the board "is actively resisting" the offer, Bernstein says. The firm also fears that AVP "rushed into the decision."
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  • Apr. 9, 2012, 9:59 AM
    "Avon (AVP) hires J&J exec as CEO," is the headline in Wall Street Breakfast. "Brace yourselves for recalls on lipsticks and eyeliner," quips SA author Old Trader in the comments section. Maybe traders agree: Avon shares are -2.7%. (previous)
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  • Apr. 9, 2012, 9:05 AM
    Premarket gainers: AOL +35%. GOLD +7%. SCLN +4%.
    Losers: MOH -22%. HOGS -11%. OPTR -5%. RDN -4%. AVP -4%. ALU -4%. DRYS -3%. S -3%. X -3%.
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  • Apr. 9, 2012, 7:16 AM
    Avon Products (AVP) names Sherilyn McCoy as its new CEO to replace Andrea Jung. The exec moves to the helm of Avon after a 30-year career at Johnson & Johnson.
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  • Apr. 6, 2012, 8:45 AM
    It's the girls from Brazil that Coty's after in its $10B play for Avon (AVP), Coty Chairman Bart Becht says. The country is the world's 3rd-largest beauty market and the Avon Lady is the queen of cosmetics there. Meanwhile, Bloomberg reports that Coty would effect Avon's turn around as a private firm rather than as a combined public company.
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  • Apr. 4, 2012, 11:09 AM
    Take the money and run. That's the advice from TheStreet's Chris Laudani after gazing back over Avon's (AVP +2.3%) Q4 results and factoring in the difficulty in merging a tried-and-true cosmetics company with Avon's giant sales force. This week's 17.8% run up in share price makes for a good exit point for Avon investors - instead of waiting in earnest for a higher bid from Cody, he argues.
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  • Apr. 2, 2012, 12:47 PM
    Barclays analyst Lauren Lieberman finds Coty's $23.25-a-share offer for Avon Products (AVP +18.8%) "relatively reasonable" with Avon's track record of lackluster growth over the last 5 years and given that the sector's average deal goes off at 13X operating profit. The company itself begs to differ, citing the low multiple of 1.1X net revenue the offer reflects and the discounting of the improved prospects for Avon under its new CEO.
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  • Apr. 2, 2012, 9:08 AM
    Premarket gainers: TWER +20%. AVP +19%. RNDY +8%. MCP +4%. ESRX +4%. VVUS +3%.
    Losers: KERX -60%. AVII -32%. GRPN -10%. NBG -8%. GFA -6%. SINA -5%. IRE -4%. GOLD -4%. THLD -3%. MT -2%. BBVA -3%.
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  • Apr. 2, 2012, 8:17 AM
    Avon (AVP) rejects a +$10B offer from Coty, saying that the deal is opportunistic and not in the best interest of shareholders. Shares +20.1% premarket.
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  • Apr. 2, 2012, 7:28 AM
    Coty proposes to buy Avon (AVP) for $23.25 a share after it says it lined up debt and equity financing to swing the deal. The offer is a 27% premium over a 3-month volume-weighted trading price for Avon. Shares of AVP +24.5% premarket.
  • Mar. 9, 2012, 7:02 PM
    LLY, APC, EBAY, SPG, ACN, and SBUX are joining the S&P 100 as of the close of trading on March 16. The companies will replace ETR, XRX, WY, AVP, S, and A.
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  • Feb. 15, 2012, 9:05 AM
    Avon (AVP) has approached HSN (HSNI) chief Mindy Grossman to become its new CEO to replace Andrea Jung, the WSJ reports. Grossman has gained praise for giving the home-shopping channel a more upscale image. Jung yesterday reassured analysts she wouldn't interfere with the whomever  takes over. (previous)
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  • Feb. 14, 2012, 3:48 PM
    Avon (AVP +1.4%) shares swing higher after opening negative following a weak Q4 report. Investors apparently were reassured after outgoing CEO Andrea Jung pledged to let her successor take steps to cut costs without impediment and that the dividend is safe this year. AVP swung to a Q4 loss on a goodwill charge and softer revenue, but expectations already were low.
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  • Feb. 14, 2012, 11:09 AM
    Once Andrea Jung leaves her job as CEO of Avon (AVP), she'll have to reapply for her roles on the boards of Apple (AAPL) and GE (GE), Businessweek's Diane Brady writes. Jung might even have to forego remaining Chair of Avon as well if the company wants to get a top-notch CEO.
  • Feb. 14, 2012, 8:32 AM
    Avon (AVP) has been pummeled by scandal, executive changes and now a difficult quarter, but Jonathan Yates sees an investment opportunity. AVP has strong prospects in Latin America and China, with each segment growing more than 5% in 2011. The P/E ratio is 10.30, price-to-sales is 0.66, return on equity (41.55%) and gross margin (63.86%) are very high. AVP -3.1% premarket.
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Company Description
Avon Products Inc is the manufacturer and marketer of beauty and related products. The Company operates in Latin America; Europe, Middle East & Africa; North America; and Asia Pacific.