Earnings space:
Avon Products posted weaker than estimated results today as sales decreased in every market except Latin America. Revenue fell 4% or 3 billion dollars. However, Mexico sales were up 12%. Volume Tuesday was huge and Avon is to continue paying dividends in 2012. I wonder if this stock will still trade up after reporting bad earnings and stating a crappy outlook. Activision Blizzard beat on earnings and raises dividend. Activision is now trading at a 13x P/E. Will it ever trade at a 20x P/E again? In my opinion, Activision is a steal right now for long term investors. The only issue right now is whether stocks have huge market cap. Michael Kors up big today after beating analysts’ earnings expectations. Kors hit a fresh 52 week high today up 23% at $42 a share. Kors has a market cap almost 10x its revenue. Zynga is up 5% today in anticipation of its earnings announcements after the close today. Has someone possibly leaked a little bit of the earning news?? Nevertheless, look what GRPN PPS did after reporting.. We are seeing a lot of people selling the Feb $15 Calls at $.95 today.
