Avon&#39;s US Sales Drop Sends Shares Lower; Net Rises
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Avon Products Inc., the world&#39;s largest direct seller of cosmetics, reported its first US sales decline in five years, sending the company&#39;s shares down the most since 2000.
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Stock markets traded lower this afternoon as the price of crude oil shot up on the latest US supply report while investors were frustrated at a series of corporate earnings disappointments, warnings and downgrades.
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U.S. stocks opened lower on Wednesday  as Coca-Cola Co. KO.N upset sentiment by warning earnings for  the rest of the year would lag expectations, while concerns  about Hurricane Ivan and its effect on crude prices continued  to weigh on investors.
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US stocks were lower at midmorning on Monday, as talk of deal activity was offset by a renewed rise in bond yields.
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US stocks gave up early gains to edge lower by mid-afternoon as the potential financial impact on insurers of Sunday&#39;s tsunami in Asia outweighed a string of upbeat sales updates by retailers.
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NEW YORK (CBS.MW) -- US stocks were slightly lower in early trading Tuesday as oil prices rose on the threat to supplies posed by Hurricane Ivan&#39;s progress through the Gulf of Mexico, with weaker-than-expected data further undermining sentiment.
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Shares of Avon Products Inc. AVP.N  fell more than 6 percent on Wednesday after the direct seller  of beauty products said it did not expect U.S. sales and profit  growth to resume until 2006 as lower-income consumers have  curbed spending.
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U.S. stocks extended their losses on Wednesday after investment bank Morgan Stanley said quarterly profit fell, casting doubt on corporate earnings growth, while a brokerage downgrade on Cisco Systems Inc. hurt tech stocks.
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US stocks were set for a weaker start on Wednesday, after global equity markets swooned in the wake of a sharp fall in China.
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Avon Products Inc. AVP.N, the  world's largest direct seller of cosmetics, on Wednesday  forecast a slide of as much as 10 percent in U.S. operating  profit as it grapples with weaker sales of key beauty items.
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U.S. stocks ended lower on Thursday as investors took profits following data that signalled strength in the economy and revived interest-rate concerns.
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Avon Products Inc. on Friday posted a  better-than-expected 33 percent increase in third-quarter  profit as business in Latin America and Europe helped offset  weakness in the United States for the direct seller of  cosmetics.
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Shares of Avon Products Inc. AVP.N  slid 6 percent on Wednesday after the direct seller of beauty  products said it did not expect U.S. sales and profit growth to  resume until 2006 as lower-income consumers have curbed  spending.
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Avon Products Inc.  on Tuesday reported slightly higher fourth-quarter earnings as it felt the effects of continuing restructuring costs, but it managed to beat Wall Street estimates.
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Shares of Avon Products Inc. AVP.N  slid more than 3 percent in light premarket trading on  Wednesday after the direct seller of beauty products said it  did not expect U.S. sales and profit growth to resume until  2006 as lower-income consumers have curbed spending.
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The company's sales fall, pulling down its stock price.
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U.S. stocks ended lower on Friday,  dragged down by a sharp fall in drugmaker Merck & Co. Inc.  MRK.N on concerns about a key drug, worries ahead of the Iraq  election and weaker-than-expected economic growth.