This week's biggest % winners & losers : April 22 - 26, 19 (wk 17)

The following are this week's top percentage gainers and losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

This week's top percentage gainers

• Healthcare: RGEN (68.89 +25.8%), SENS (2.35 +20.51%), BIOS (2.01 +17.54%), ADAP (4.83 +17.23%), TNDM (63.49 +16.69%), MRNA (26.26 +16.66%)
• Industrials: KEYW (11.3 +43.77%), UFPI (36.65 +16.57%)
• Consumer Discretionary: SAH (20.63 +31.65%), HELE (140.29 +20.42%)
• Information Technology: MANH (67.5 +17.8%), PRO (50.45 +17.63%)
• Financials: TBBK (10.35 +24.25%), ENVA (30.32 +18.58%), EHTH (64.25 +17.33%), CASH (26.04 +16.61%)
• Energy: FET (6.13 +15.88%)
• Consumer Staples: AVP (3.19 +20.83%)

This week's top percentage losers

• Healthcare: GRTS (10.79 -21.47%)
• Materials: LOMA (9.63 -14.25%)
• Industrials: ASTE (33.25 -20.32%), BGG (11.67 -17.23%), EAF (11.74 -15.72%)
• Consumer Discretionary: VC (63.8 -22.61%), IRBT (100.04 -22.34%), UXIN (2.82 -16.32%), HZO (16.53 -15.27%)
• Information Technology: CLS (7.17 -18.06%)
• Energy: MMLP (7.73 -24.36%), NR (7.06 -19.68%), CRC (21.58 -19.39%), ECR (11.2 -15.66%), SPN (4.05 -15.45%), TK (3.82 -15.11%), CVIA (5.32 -14.88%)

-=Avon Products (AVP) : $125 million cash deal with Cerberus and Avon Worldwide

• In March 2016 Avon's North American business was separated into a privately-held company -- New Avon -- as a result of a strategic partnership transaction between Avon Worldwide and an affiliate of Cerberus Capital Management, L.P. Avon North America is majority-owned and managed by Cerberus. Avon Worldwide retained a minority interest in Avon North America which LG H&H will acquire as part of its transaction.

LG Household & Health Care, Ltd. has entered into a definitive agreement with an affiliate of Cerberus Capital Management, L.P. and Avon Products, Inc. to acquire New Avon, LLC (Avon North America) for $125 million in cash.

LG H&H will acquire the entirety of Cerberus' majority interest and Avon Worldwide's minority interest in Avon North America.

LG H&H is Korea's leading consumer goods company, with strong market positions in all major categories including cosmetics, personal care and home care.The transaction has been approved by the LG H&H board of directors.

The addition of Avon's iconic brand, award-winning products, dedicated employee base and network of 250,000 sales representatives throughout North America will support LG H&H's international growth plans, the company said in a statement.

Under LG H&H's ownership, Avon North America will continue its strategy of product innovation, while strengthening its position as the leading social selling beauty company in the region. Avon North America is expected to benefit from LG H&H's R&D capabilities in cosmetics, personal care, fragrance, packaging and design.

"We recognize Avon North America's strong brand, leading market position in the region, and talented employees and Representatives. Avon North America's innovative social selling model builds deep connections with customers and we are excited to leverage this as we continue to expand. We look forward to building on Avon North America's success to drive customer engagement and long-term growth in this market,” said Suk Cha, CEO of LG Household & Health Care.

"LG H&H respects and admires our strong community of representatives, and supports our mission to empower women through economic opportunity," said Laurie Ann Goldman, CEO of Avon North America. "We are thrilled to welcome our new partner, who shares our commitment to innovation, and our clear focus on putting customers first. We have appreciated our partnership with Cerberus over the last three years and their support as we strengthened the company and reset our path toward long-term success."
The transaction is expected to close on September 30, 2019 and is subject to certain customary closing conditions, including regulatory approvals in the U.S.

-=Avon Products (AVP) reported earnings on Thur 15 Feb 2018 (b/o)

Avon Products beats by $0.05, misses on revs 

• Reports Q4 (Dec) earnings of $0.12 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus of $0.07; revenues rose 0.1% year/year to $1.57 bln vs the $1.6 bln Capital IQ Consensus, declined 2% in constant dollars. Active Representatives declined 2% primarily due to decreases in South Latin America and North Latin America. Average order was relatively unchanged primarily due to growth in South Latin America that was offset by a decline in Europe, Middle East & Africa. Ending Representatives was relatively unchanged primarily due to growth in Europe, Middle East & Africa that was offset by a decline in South Latin America.
• "Our top line remains under pressure as we continue to operate in challenging macro and competitive conditions, particularly in our largest markets. We delivered improving operating margins in the fourth quarter supported by continued benefit from our ongoing cost savings initiatives. Importantly, we continued to strengthen our cash position, enhancing the financial flexibility necessary to fund priority investments." Zijderveld went on to say, "With the support of the Board of Directors, and the reality of our current performance, I am taking a fresh look, diving deeply into our business, starting with spending time in our key markets to gain a full picture of the operating climate as a basis to improve performance. I am committed to accelerating the pace of change and to positioning Avon for success."

=Avon Products (AVP) reported earnings on Thur 4 May 2017 (b/o)

Avon Products misses by $0.08, reports revs in-line; guides FY17:

• Reports Q1 (Mar) loss of $0.07 per share, excluding non-recurring items, $0.08 worse than the Capital IQ Consensus of $0.01; revenues rose 2.0% year/year to $1.33 bln vs the $1.33 bln Capital IQ Consensus. 
• Active Representatives declined 3% with decreases in all segments except North Latin America, which was relatively unchanged. Average order increased 2% with growth in all segments except Europe, Middle East & Africa, which declined. Ending Representatives declined 1% primarily due to a decline in Asia Pacific. Gross margin and Adjusted gross margin both increased 90 basis points to 61.2%, primarily due to the favorable net impact of price/mix.
• For full-year 2017, including the impact of the first quarter, the Company expects constant-dollar revenue growth in the low single-digits (as reported consensus +1.4%), Adjusted operating margin expansion of 100 to 140 bps over the prior year and free cash flow to be slightly positive including the expected $65 million in increased capital expenditures.

Avon Products (AVP) reported earnings on Thur 16 Feb 2017 (b/o)

** charts after earnings **

 

 Avon Products misses by $0.09, misses on revs :

• Reports Q4 (Dec) earnings of $0.01 per share, $0.09 worse than the Capital IQ Consensus of $0.10; revenues fell 2.4% year/year to $1.57 bln vs the $1.62 bln Capital IQ Consensus.
• Active Representatives from Reportable Segments declined 2%. 
• Bad Debt Expense increased 210 bps, primarily in Brazil. 
• Operating Margin increased 290 bps to 6.8%; Adjusted Operating Margin increased 130 bps to 7.3%. 

Avon Products (AVP) reported earnings on Tue 2 Aug 2016 (b/o)

** charts before earnings **

** charts after earnings **

Avon Products misses by $0.05, beats on revs  :

• Reported Q2 (Jun) adj. EPS $0.07 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus of $0.03; revenues fell 8.3% year/year to $1.43 bln vs the $1.4 bln Capital IQ Consensus.
  
  • Gross margin was 60.6%, down 40 basis points while Adjusted gross margin was 60.6%, down 70 basis points. These year-over-year comparisons were negatively impacted by an approximate 290 basis point impact from foreign exchange, partially offset by pricing actions, favorable mix and lower supply chain costs.
  • Operating margin was 6.6% in the quarter, up 90 basis points while Adjusted operating margin was 7.3%, up 100 basis points. These year-over-year comparisons benefited from the favorable net impact of price/mix, as well as continued benefits from cost savings initiatives, partially offset by approximately 350 basis points of unfavorable impact of foreign exchange.

Avon Products (AVP) reported 4Q earnings on Thur 11 Feb 2016 (a/h)

** charts before earnings **

** charts after earnings **

• 2nd day after earnings:

• 5 months later:

Avon Products misses by $0.08, misses on revs :

Reports Q4 (Dec) net of breakeven, $0.08 worse than the Capital IQ Consensus of $0.08; revenues fell 20.2% year/year to $1.61 bln vs the $1.82 bln Capital IQ Consensus.

• In January 2016, the Company announced a Transformation Plan, which includes cost reductions in an effort to continue to improve its cost structure and to enable the Company to reinvest in growth. As a result of this plan, the Company expects pre-tax annualized cost savings of approximately $350 million after three years, with an estimated $200 million from supply chain reductions and an estimated $150 million from other cost reductions. These pre-tax cost savings are expected to be achieved through restructuring actions as well as other cost-savings strategies that will not result in restructuring charges. The Company plans to reinvest a portion of these cost savings in growth initiatives, including media, social selling and information technology systems that will help the Company modernize its business. The Transformation Plan was initiated in order to enable the Company to achieve its long-term goals of low double-digit operating margin and mid single-digit constant-dollar revenue growth.

Great trade : Avon Products (AVP) (12/15) +25%

• #58  on 11/24

Avon Products (AVP) reported earnings on Wed 4 Nov 2015 (before open)

** charts after earnings **

Avon Products misses by $0.18, misses on revs  :

• Reports Q3 (Sep) loss of $0.11 per share, excluding non-recurring items,$0.18 worse than the Capital IQ Consensus of $0.07; revenues fell 22.0% year/year to $1.67 bln vs the $1.68 bln Capital IQ Consensus. 
• Gross margin was 60.8%, down 110 basis points. Adjusted gross margin was 61.2%, down 80 basis points.
• Outlook: Relatively unchanged constant-dollar revenue (which includes the negative impact of the Liz Earle divestiture); An approximate 19 point negative impact on reported revenue due to foreign currency translation.