Avon (AVP) Shares Spike Sharply Higher on Richmont Headline, Still Down ~8%

Shares of Avon (NYSE: AVP) surged nearly 18 percent following a Bloomberg headline suggesting Richmont is still interested in all or at least a part of the company. The stock traded to as low as $18.10 Tuesday morning, then popped to an intraday high at $21.85 on the heels of the rumor, but is now just under $19, down more than 8 percent from Monday's close.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• NVIDIA (NVDA) in talks to invest in data-center company Cloverleaf Infrastructure - WSJ
• Stripe, Advent In Talks To Buy Paypal - WSJ
• Bernstein on whether Hershey (HSY) could eventually step up to buy Mondelez (MDLZ)