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Snow stocks rally, CEO Barbie booted and Avon's renewed takeover chatter

Mattel (MAT) is down by 5% after the man behind CEO Barbie, Bryan Stockton resigned as Chairman and CEO today. Shares are tumbling less out of sadness than because the toy maker also told investors preliminary fourth quarter and full-year sales will likely drop by as much as 7%. Part of the problem is Barbie has not been pulling her weight, sales of the iconic doll have been in decline for a few years. Plus Disney's (DIS) Elsa is eating Barbie's lunch these days. The company's interim CEO Christopher Sinclair starts today.

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Avon (AVP) shares are higher again today on continued chatter the cosmetic maker will be purchased by somebody. The stock is giving pack some gains but still higher by more than 1% on renewed speculation that Avon has been in talks with private equity. We old timers recall Avon threw away a gorgeous takeover offer from Coty (COTY) a few years ago when the stock was around $24 and change. Today the stock is trading around the $8 level. Maybe the rumors are real this time but not all the make-up in the world can conceal the look of regret and desperation out of Avon for the last few years.

Toro (TTC), the maker of snow mobiles, is getting a pop as New York City braces for the worst snowstorm in history according to the Mayor. Other cities on the East Coast are also preparing for Snow-mageddon. Forecasters are predicting 2 to 3 feet of snow in some areas which should create plenty of work for the snow blowing community. Snow is expect to fall most of Monday through the early part of Tuesday's morning commute. Airlines (^XAL) have already cancelled hundreds of flights. In Minnesota where I'm from and Toro is based what's happening out here is called "snow" and it's to be expected in January. That doesn't stop NYer's from ululating and loading up on snowblowers every time a flake falls out here. Nice work, dere, Toro.

 

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