U.S. Movers: Avon Products, InterOil Corp., Seadrill, Silver Wheaton

Mukesh Buch
14 May, 2012
New York City

Avon said it will respond to the takeover deal from Coty for $10.7 billion. InterOil first quarter net surged more than twelve folds and Seadrill first quarter net plunged 50% to $439 million. Silver Wheaton first quarter net increased 20% to $147.2 million.

[R]11:25 AM New York – Avon said it will respond to the takeover deal from Coty for $10.7 billion. InterOil first quarter net surged more than twelve folds and Seadrill first quarter net plunged 50% to $439 million. Silver Wheaton first quarter net increased 20% to $147.2 million.[/R]

Avon Products, Inc. ((AVP)) gained 5.2% or $1.06 to $21.25 after the beauty products maker said it will respond within a week to Coty Inc as management and the company's financial and legal advisors will consider Coty's letter dated May 9 offering $10.7 billion for the company.

InterOil Corporation ((IOC)) plunged 11.2% or $6.45 to $51.16 after the Australia based petroleum company reported first quarter total revenue soared 39% to $338.1 million compared to $243.7 million in the same period last year. Net profit in the quarter surged more then twelve folds to $9.44 million or 19 cents per diluted share compared to $0.70 million or 1 cent per share a year ago period.

KiOR, Inc. ((KIOR)) soared 10.1% or 91 cents to $9.86 after the renewable fuel producer did not recognize revenue during the first quarter. Net loss in the quarter widened to $16.8 million or 16 cents per diluted share compared to $13.4 million or 16 cents per share a year ago earlier.

Seadrill Limited ((SDRL)) slipped 1.8% or 68 cents to $35.94 after the Bermuda based offshore drilling company reported first quarter revenue fell 5% to $1.05 billion compared to $1.11 billion in the same period last year. Net income in the quarter plunged 50% to $439 million or 87 cents per diluted share compared to $886 million or $1.83 per share a year ago.

Silver Wheaton Corp. ((SLW)) dropped 3.1% or 84 cents to $25.62 after the Canada based mining company reported first quarter revenues grew 26% to $199.6 million compared to $158.2 million in the same period last year. Net profit in the quarter increased 20% to $147.2 million or 41 cents per diluted share compared to $122.2 million or 34 cents per share a year ago period.