Avon Products (NYSE: AVP ) plans to lay off more than 400 full-time employees and exit Ireland�as part of its $400 million cost-cutting initiative, the company announced today.
This most recent move comes one month after the company raised $1.5 billion through a public offering and refinanced $1 billion of debt to better balance its books.
In a statement today, CEO Sheri McCoy said: "We continue to work aggressively toward turning around the business. The steps outlined today take us closer to our cost-savings goal. At the same time, we remain focused on continuing to streamline the business and driving top-line growth."
Avon expects the layoffs (equivalent to 1% of its total workforce) and the exit from Ireland to be completed by the end of 2013 �with a total pre-tax cost of $35 million to $40 million. Avon will record a $20 million hit for Q1 2013, but ultimately expects its efforts to save around $45 million to $50 million per year by 2016.
Today's announcement names markets in Europe and the Middle East and Africa as uderperforming. Avon products are available in more than 100 countries and are sold through more than 6 million active independent Avon sales representatives.
Top Stocks To Own Right Now: Intel Corporation(INTC)
Intel Corporation engages in the design, manufacture, and sale of integrated circuits for computing and communications industries worldwide. It offers microprocessor products used in notebooks, netbooks, desktops, servers, workstations, storage products, embedded applications, communications products, consumer electronics devices, and handhelds. The company also provides system on chip products that integrate its core processing functionalities with other system components, such as graphics, audio, and video, onto a single chip. In addition, it offers chipset products that send data between the microprocessor and input, display, and storage devices, including keyboard, mouse, monitor, hard drive, and CD, DVD, or Blu-ray drives; motherboards designed for desktop, server, and workstation platforms, and that has connectors for attaching devices to the bus; and wired and wireless connectivity products consisting of network adapters and embedded wireless cards used to translate and transmit data across networks. Further, the company provides NAND flash memory products primarily used in portable memory storage devices, digital camera memory cards, and solid-state drives; software products comprising operating systems, middleware, and tools used to develop, run, and manage various enterprise, consumer, embedded, and handheld devices; and software development tools that enable the creation of applications. Additionally, it develops computing platforms, which are integrated hardware and software computing technologies designed to offer an optimized solution. The company sells its products principally to original equipment manufacturers, original design manufacturers, PC components and other products users, and other manufacturers of industrial and communications equipment. It has a strategic alliance with Scientific Conservation Inc. Intel Corporation was founded in 1968 and is based in Santa Clara, California.
Advisors' Opinion:- [By Garrett Cook]
Shares of Intel (NASDAQ: INTC) got a boost, shooting up 6.73 percent to $33.85 after the company reported better-than-expected Q2 earnings. Analysts at UBS upgraded Intel from Neutral to Buy and raised the target price from $30 to $37.50.
- [By Jonas Elmerraji]
It's easy to forget that chipmaker Intel (INTC) hasn't always been a "dividend stock" -- the firm didn't break the 1% barrier until 2005. Since then, though, it's established itself as one of the best payouts in the tech sector -- at last count, Intel's yield weighs in at 3.52%, good enough to give it "Dog" status as we head into 2014.
Intel owns around 80% of the global microprocessor business, manufacturing the "brains" behind the vast majority of computers coming off of assembly lines. So while the firm's PC-builder customers are seeing their margins get commoditized away, Intel continues to take home net margins deep in the double-digits. As mobile devices like tablets continue to take away share from conventional PCs, Intel is working hard to take a bigger share of that market too - its Atom chips have done a good job of scaling down the power consumption of its prime-time chips without sacrificing too much on the speed side. As consumers continue to demand more from their mobile devices, the cost premium that Intel commands will continue to be easier to swallow.
Part of Intel's dominance comes from its facilities. Intel owns the most advanced chip foundries in the world, laying claim to manufacturing capabilities that rivals just don't have. Intel sports a solid balance sheet, with more than $16.2 billion in net cash - enough to convert its already trim P/E ratio of 13.8 into a downright cheap 12 ex-cash. You don't need the processing power of one of Intel's newest chips to see that's a bargain.
Top Performing Stocks To Buy Right Now: Independent Film Development Corp (IFLM)
Independent Film Development Corporation (IFDC), incorporated on September 14, 2007, is in the development stage. The Company focuses on acquiring and developing independent films for production, sales and distribution, with a goal towards partnerships with mini-major and the major film studios, such as Lionsgate and Sony. IFDC�� focus of operations has three main components of film production and finance; Co-financing, acquiring product in the development stage, and its own film production. Co-financing is where a company such as IFDC goes out looking for films that are already financed at 50% or more. The Company licenses partially or fully completed films made by independent filmmakers to entertainment distributions companies.
The Company produces film on behalf of a studio. The Company identifies, produces, and secures distribution of a film. The Company owns the film in perpetuity and directly participates in all revenue generated by the film. The Company identifies films through its network of independent filmmakers as well as industry festivals and trade shows including Sundance, Tribeca, Cannes, and Toronto. The company will acquire the rights to license (as sales agent) films for a period of 7-25 years in return for a commission ranging from 10-30% of the licensing fees paid by the distributors.
Advisors' Opinion:- [By James E. Brumley]
When investors and/or consumers think of a theme park company, a name like Six Flags Entertainment Corp. (NYSE:SIX) or the quintessential The Walt Disney Company (NYSE:DIS) comes to mind. And well they should. Disney is easily the world's most popular amusement park purveyor, while many thrill-seekers say a Six Flags park is the place to go for the most intense thrill ride experience. Rarely - as in never - does a little independent film company sneak into the conversation regarding the world's top amusement parks. That may be about to change, however, if Independent Film Development Corporation (OTCMKTS:IFLM).
- [By Bryan Murphy]
What do you get when you cross the theme park division of The Walt Disney Company (NYSE:DIS), zombies, aliens, Bigfoot, and a resort? You get a very fun - and very intense - vacation experience. You get a company called Independent Film Development Corporation (OTCMKTS:IFLM). And if you're an investor, you may also get a pretty decent payback period once the called Independent Film Development Corporation - aka IndyFilmCorp - is fully up and running with the first of what it expects to be several fear-focused theme parks that meet the new consumers "needs and wants" that Disney doesn't.
Top Performing Stocks To Buy Right Now: Rexahn Pharmaceuticals Inc (RNN)
Rexahn Pharmaceuticals, Inc. (Rexahn) is a development-stage biopharmaceutical company. The Company focuses on the development of cures for cancer to patients worldwide. The Company�� pipeline features one drug candidate in Phase II clinical trials. The Company also has several other drug candidates in pre-clinical development. In addition, the Company has two renal cell carcinoma (CNS) candidates, Serdaxin, CNS Disorders drug for depression and neurodegenerative diseases and Zoraxel, which is a erectile dysfunction (ED) and sexual dysfunction drug that are in clinical stages and the Company is are exploring options for further development . The Company�� drug candidate, Archexin is an anticancer Akt inhibitor.
Archexin
Archexin is potent inhibitor of the Akt protein kinase (Akt) in cancer cells. Archexin has FDA orphan drug designations for five cancers (RCC, glioblastoma, and cancers of the ovary, stomach and pancreas). Multiple indications for other solid tumors can also be pursued. Archexin inhibit both activated and inactivated forms of Akt, and to reverse the drug resistance observed with the protein kinase inhibitors. Archexin is an antisense oligonucleotide (ASO) compound that is complementary to Akt mRNA, and selective for inhibiting mRNA expression and production of Akt protein. As of December 31, 2011, Archexin was in Phase II clinical trials for the treatment of pancreatic cancer with enrollment completed in September, 2011.
Serdaxin
Serdaxin is an extended release formulation of clavulanic acid, which is an ingredient present in antibiotics approved by the FDA. The Company had been developing Serdaxin for the treatment of depression and neurodegenerative disorders. From January to September, 2011, the Company conducted a randomized, double-blind, placebo-controlled study compared two doses of Serdaxin, 0.5 milligram and 5 milligram, to placebo over an eight-week treatment period for major depressive disorder (MDD) patients. As of Dec! ember 31, 2011, the Company had not made a determination of Serdaxin�� future paths or resource allocations to further develop Serdaxin to treat MDD.
Zoraxel
Zoraxel is an orally administered, on-demand tablet to treat sexual dysfunction. Zoraxel is a dual enhancer of neurotransmitters in the brain that play a key role in sexual activity phases of motivation and arousal, erection and release, and may be the ED drug to affect all three of these phases of sexual activity. As of December 31, 2011, the Company was evaluating how to proceed with the Phase IIb study of Zoraxel.
The Company�� Pre-clinical Pipeline Drug Candidates includes RX-1792, which is a small molecule anticancer EGFR inhibitor; RX-5902, which is a small molecule anticancer ribonucleic acid (RNA) helicase regulator; RX-3117, which is a Small molecule anticancer deoxyribonucleic acid (DNA) synthesis Inhibitor; RX-8243, which is a small molecule anticancer aurora kinase inhibitor; RX-0201-Nano, which is a nanoliposomal anticancer Akt inhibitor; RX-0047-Nano, which is an nanoliposomal anticancer HIF-1 alpha inhibitor and RX-21101, which is a nano-polymer Anticancer.
Advisors' Opinion:- [By Roberto Pedone]
One under-$10 biopharmaceutical player that's just starting to move into breakout territory is Rexahn Pharmaceuticals (RNN), which is engaged in the development of novel treatments for cancer to patients. This stock has been on fire so far in 2013, with shares up sharply by 62%.
If you take a look at the chart for Rexahn Pharmaceuticals, you'll notice that this stock has been uptrending strong for the last month, with shares moving higher from its low of 36 cents per share to its intraday high of 53 cents per share. During that uptrend, shares of RNN have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of RNN into breakout territory above some near-term overhead resistance levels at 49 cents to 50 cents per share. It's worth noting that volume today is tracking in extremely strong with over 3 million shares traded, versus its three-month average action of 1.22 million shares.
Traders should now look for long-biased trades in RNN if it manages to break out above Thursday's intraday high of 53 cents per share with high volume. Look for a sustained move or close above that level with volume that hits near or above its three-month average action of 1.22 million shares. If that breakout hits soon, then RNN will set up to re-test or possibly take out its next major overhead resistance levels at 64 cents to its 52-week high at 66 cents per share. Any high-volume move above 66 cents to 67 cents per share could then send RNN towards its next major overhead resistance levels at 81 cents per share.
Traders can look to buy RNN off any weakness to anticipate that breakout and simply use a stop that sits right below its 50-day moving average at 47 cents per share. One can also buy RNN off strength once it clears 53 cents per share with volume and then simply use a stop that sits a comfortable percentage from your entry point.
- [By James E. Brumley]
With just a quick glance at a chart of Rexahn Pharmaceuticals, Inc. (NYSEMKT:RNN), it would be easy to conclude it's nothing but a volatile mess. When you take a step back and look at a long-term weekly chart of RNN, however, it starts to become clear that this small cap biopharma name is on the verge of a monster-sized breakout. First things first, however.
Top Performing Stocks To Buy Right Now: Spdr S&P Homebuilders Etf (XHB)
SPDR S&P Homebuilders ETF (the Fund) seeks to replicate as closely as possible, before expenses, the performance of the S&P Homebuilders Select Industry Index (the Index). To accomplish this, the Fund utilizes a passive or indexing approach and attempts to approximate the investment performance of its Index, by investing in a portfolio of stocks intended to replicate the Index.
The S&P Homebuilders Select Industry Index seeks to provide a representation of the homebuilders��sub-industry portion of the S&P Total Market Index. The S&P TMI tracks all the United States common stocks regularly traded on the NYSE, American Stock Exchange, NASDAQ National Market and NASDAQ Small Cap Exchanges. The Homebuilders Index is an equal weighted market cap index.
Advisors' Opinion:- [By Ben Levisohn]
The SPDR S&P Homebuilders ETF (XHB) has dropped 10.5% during the past three months, or about when all the talk about an end to the Fed’s bond buying really picked up, compared to a 2.7% return for the S&P 500.
Top Performing Stocks To Buy Right Now: Profire Energy Inc (PFIE)
Profire Energy, Inc., incorporated on May 5, 2003, is engaged in the business of developing combustion management technologies for the oil and gases industry. The Company manufactures, install and service oilfield combustion management technologies and related products, such as train components and secondary airplates. The Company's primary products are burner management systems. The Company�� Profire 2100 burner management system allows the end-user to manage a variety of combustion vessels. Its Profire 1300 is a flare-ignition system that provides fundamental ignition capabilities for combustor and open-flare vessels, and can relay flame-status. Its Profire 1800 is a mid-range burner management system option that provides fundamental burner management functionality, such as burner re-ignition and temperature management.
The Company also manufactures other technologies and products for sale, including specialized burner management systems intended for use in specific firetube vessels (e.g. incinerators), valve train products, including valves, gauges, and installation products, and miscellaneous componentry, such as solar-power generation kits, add-on cards to expand the functionality of a given system, and a airplate that meters secondary airflow to the burner, allowing for more optimized combustion and reduced emissions.
The Company competes with SureFire, Platinum, ACL and TitanLogix.
Advisors' Opinion:- [By Peter Graham]
Small cap green stocks Eco Depot Inc (OTCMKTS: ECDP), Eco Building Products Inc (OTCMKTS: ECOB) and Profire Energy, Inc (OTCBB: PFIE) has been getting some extra attention lately in various investment newsletters thanks to paid promotions or investor relation campaigns. Of course, there is nothing wrong with properly disclosed promotions and investor relations campaigns, but small cap green stocks tend to be extra volatile when compared with other stocks. So how in greenbacks will these three small cap green stocks produce for investors? Here is a quick reality check:
Top Performing Stocks To Buy Right Now: Panera Bread Company(PNRA)
Panera Bread Company, together with its subsidiaries, owns, operates, and franchises retail bakery-cafes in the United States and Canada. Its bakery-cafes offer fresh baked goods, sandwiches, soups, salads, custom roasted coffees, and other complementary products, as well as provide catering services. The company also manufactures and supplies dough and other products to company-owned and franchise-operated bakery-cafes. As of March 29, 2011, it owned and franchised 1,467 bakery-cafes under the Panera Bread, Saint Louis Bread Co., and Paradise Bakery & Cafe names. The company was founded in 1981 and is based in St. Louis, Missouri.
Advisors' Opinion:- [By Rick Aristotle Munarriz]
Akio Kon/Bloomberg via Getty Images Companies are always trying to build for the future: Sometimes it works, other times things don't work out quite as planned. From a tech giant having to rebrand a popular service to one of the more notorious IPO duds of last year bouncing back, here's a rundown of this week's best and worst results from the business world. SodaStream (SODA) -- Winner Naysayers have been saying for years that SodaStream's soda-making appliance is a fad, but the Israeli company just keeps on growing, and it came through with better-than-expected results on Wednesday. Revenue rose 29 percent with double-digit growth across its soda makers, carbonator refills, and soda flavors. In other words, the systems are being used. Earnings grew even faster. SodaStream had 7.4 million shares sold short as of July 15 -- a strong measure of the bearish outlook among investors regarding the stock. That represents a whopping 35 percent of SodaStream's 21.4 million fully diluted shares outstanding, though it's down markedly from the nearly 10 million shares that were sold short this time last year. Those bears have been burned by SodaStreams healthy run in recent months. And, further tweaking the skeptics, SodaStream capped off its report by boosting its revenue and profit outlooks for all of 2013. Microsoft (MSFT) -- Loser All of the tech giants have their own Dropbox clone, vying for a slice of the inevitably gargantuan cloud-hosted file storage market. "We aim to make SkyDrive the place for all your documents, notes, photos, videos and other files," Microsoft began in an April press release touting its own solution. Sorry, Microsoft: You're going to have compile a new name. The world's largest software company lost a trademark fight with British Sky Broadcasting over the Sky name. Sensing defeat, Microsoft has decided not to pursue an appeal and BSkyB will give the Windows watcher a reasonable amount of time to rebrand the service. You would think a t
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