Avon Shares Slide on Analyst Downgrades

• Posted by System February 2, 2009 - Filed in Archive - 272 views
  Shares of Avon Products Inc. slipped on Monday after an analyst downgraded shares of the cosmetics company ahead of its quarterly report amid soft consumer discretionary spending.

  Shares retreated $1.30, or 6.3 percent, to $19.15 in afternoon trading. The stock has declined 14.9 percent so far this year.

  Yahoo! BuzzAnalyst Andrew Sawyer of Goldman Sachs (nyse: GS - news - people ) cut his rating on the stock to "Neutral" from "Buy" and said there are limited catalysts to drive the shares higher.