Top Consumer Stocks
Consumer stocks were mostly lower, with shares of consumer
staples companies in the S&P 500 falling 0.3%. Shares of
consumer discretionary firms in the S&P 500 were down almost
In company news, shares of Avon Products (
) and Coty Inc (
) were higher Wednesday after the companies announced a partnership
to sell select COTY products through AVP's network of 1.5 million
sales representatives in Brazil.
Brazil is AVP's largest market and is the largest fragrance
AVP shares were up nearly 3% at $13.89 each in mid-day trade,
maintaining a perch within a penny of its session high. The stock
has 52-week range of $13.22 to $24.71 a share, sliding 40.8% in
value over the past 12 months.
COTY was ahead 3.4% at $15.96 a share, earlier rising as high as
$16.50 a share during the session. Earlier, the company reported a
fiscal Q3 net loss of $253.3 million, or $0.66 per share, reversing
a $20.4 million profit in the year-ago period.
Excluding a $316.9 million non-cash asset impairment charge
linked to COTY's efforts to revamp its TJoy business, the company
earned $0.22 per share, beating the Capital IQ consensus by $0.13.
Net revenue rose about 1% year over year to $1.01 billion, matching
In other sector news,
(+) LOJN, (+20.9%) Arbitration panel dismisses all claims filed
against the company by Tracker do Brasil LTDA, the exclusive
licensee of LoJack Stolen Vehicle Recovery technology in Brazil.
Panel will next meet to determine damages owed LOJN.
(-) FOSL, (-8.8%) Q1 EPS of $1.22 beats by $0.05 per share.
Revenue rises 14.1% to $777 mln, topping consensus by $6.31 mln.
Forecasts Q2 EPS of $0.90 to $0.97 per share, trailing Street by at
least $0.20. Guides Q2 revenue in-line with estimates.
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