Avon Products Inc (NYSE:AVP) stock looked pretty after Bill Miller, the venerable portfolio manager and longtime value investor, said the most interesting stock he’s added recently was Avon. “Avon was at a 70-year low at $1.95 or something like that; brand new management all up and down, a couple hundred million dollars in free cash flow, the proper strategy now for the first time in years, if not decades,” Miller told CNBC’s “Squawk on the Street.”
Shares of the London-based beauty company surged 21.4% to $2.29 in midday trading.
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1-800-Flowers.com (FLWS) reported fiscal second-quarter earnings that beat Wall Street estimates on strong revenue. For the quarter ended December 2018, the company posted earnings of $1.04 per share on revenue of $571.3 million. The consensus earnings estimate was $0.97 per share on revenue of $554.5 million. Revenue grew 8.6% on a year-over-year basis.
Shares in the Carle Place, New York, company which provides customers with fresh flowers and gifts jumped nearly 17% to $15.60.
II-VI Inc (NASDAQ:IIVI) posted fiscal second-quarter earnings that beat Wall Street estimates on strong revenue from its optoelectronic components and laser solutions business. For the quarter ended December 2018, the company reported earnings of $0.71 per share on revenue of $342.8 million. The consensus earnings estimate was $0.67 per share on revenue of $339.2 million. Revenue grew 21.8% on a year-over-year basis. The company’s silicon carbide technology is at the core of advanced 4G and future 5G wireless base stations and network infrastructure.
Shares in the Saxonburg, Pennsylvania-based company shot up 16.6% to $38.70.
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KEMET Corporation (NYSE:KEM) stock tumbled after CEO William Lowe warned that “there is no doubt that during our third quarter, we're seeing a bit of a general slowdown,” driven primarily by Asia. During a call with analysts, Lowe said China tariffs are “definitely having an overall effect in influencing the slowdown” in some markets and channels. Meanwhile, the electronic components manufacturer posted preliminary earnings of $1.07 per share on revenue of $350.2 million. The consensus earnings estimate was $0.94 per share on revenue of $353.4 million. Revenue grew 14.3% on a year-over-year basis.
Shares in the Fort Lauderdale, Florida-based tumbled 18.6% to $17.25.
Contact Uttara Choudhury at uttara@proactiveinvestors.com
Follow her on Twitter: @UttaraProactive