Deadline Missed on $10.7 Billion Offer
Shares of the iconic makeup company are plunging this morning after fragrance company Coty withdrew a $10.7 billion buyout bid. Coty had raised its bid last week to $24.75 per share from an initial $23.25 price, but Avon missed its deadline to respond yesterday. AVP is down 14.31 percent to $17.96 on my tradeMONSTER platform.
Groupon Soars on Earnings, Revenue
The daily-deal service ripped higher yesterday and is up even more today following its quarterly report after yesterday's close. Earnings came in at $0.02 per share on revenues of $559.3 million, beating estimates of $0.01 EPS and $530.45 in revenues. GRPN is soaring 24.84 percent to $14.65 this morning.
American Science & Engineering Falls
The X-ray systems company is down sharply after reporting quarterly earnings of $0.15 per share on revenues of $39.8 million, well below the consensus estimates of $0.85 EPS and $61.08 million in revenues. Markets seem to care less about the announced $35 million share buyback plan as ASEI falls 8.88 percent to $61.37.
Summer Infant Badly Misses Forecasts
The maker of baby-safety products posted earnings of $0.07 per share yesterday on revenues of $63 million, below the consensus targets of $0.12 EPS and $65.18 million. SUMR was last down 26 percent to $1.25 in extended-hours trading.
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