Shares of Avon Products Inc. (NYSE: AVP), a manufacturer and marketer of beauty and related products, are seeing a huge rally in trading today after the company reported better-than-expected fourth-quarter results.
AVP shares rose to an intra-day high of $20.23 in trading today. At last check, the stock was trading 16.90% higher at $20.20 on above average volume of 8.06 million.
Another big gainer in trading today is Masco Corporation (NYSE: MAS), a manufacturer, distributor and installer of home improvement and building products. Masco shares are soaring after the company’s fourth-quarter adjusted earnings and revenue beat Street estimates.
MAS shares rose to a 52-week high of $20.25 earlier today. At last check, the stock was trading 12.59% higher at $20.03 on above average volume of 7.26 million.
Shares of Level 3 Communications Inc. (NYSE: LVLT), a facilities-based provider of a range of integrated communications services, are sinking in trading today even as the company reported a narrower loss for the fourth quarter.
Level 3 reported fourth-quarter net loss of $56 million, or $0.26 per share, compared to $163 million, or $0.80 per share reported for the same period in the previous year. Excluding one-time items, the company reported net loss of $0.16 per share, compared to Street estimates of a loss of $0.18 per share.
LVLT’s total revenue for the quarter was $1.614 billion, compared to $1.579 billion reported for the same period in the previous year. Analysts were expecting the company to report total revenue of $1.61 billion.
LVLT shares fell to an intra-day low of $20.77 on Friday. At last check, the stock was down 13.30% to $21.38 on above average volume of 3.50 million.
Shares of The Valspar Corporation (NYSE: VAL), a global coating and paint manufacturer and distributor, are down sharply in trading today. At last check, VAL shares were trading 8.13% lower at $61.49 on above average volume of 997,316. The stock fell to an intra-day low of $60.80.
VAL shares have plunged after the company reported weaker-than-expected first-quarter earnings. The company reported first-quarter profit of $55.02 million, compared to $55.78 million reported for the same period in the previous year. On a per share basis, the company reported earnings of $0.60 per share for the quarter, compared to Street estimates of $0.67 per share.
Revenue for the quarter was $875.24 million, compared to $885.64 million reported for the same period in the previous year. Analysts had forecast first-quarter revenue at $922.05 million.
Shares of Michael Kors Holdings Ltd. (NYSE: KORS), a distributor, marketer, distributor and retailer of branded women’s apparel and accessories and men’s apparel, are seeing a huge rally in trading today after the company reported strong third-quarter financial results.
At last check, KORS shares were trading 10.98% higher at $63.26 on above average volume of 10.77 million. The stock hit a 52-week high of $64.80 earlier today. Year-to-date, KORS shares have now gained more than 24%, outperforming the S&P 500, which has gained nearly 6.5% in the same period.
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