Share prices of cosmetics companies have displayed very little variance over the past week, moving almost in synchronization with the broader Samp;P Index. While Samp;P declined  by 0.06% over the past week, shares of L’OrÃal (OTC:LRLCY) improved by +0.21% and shares of Avon Products (NYSE:AVP) declined by -0.41%. Revlon (NYSE:REV) shares grew by a comparatively higher rate of  4.24%, while EstÃe Lauder (NYSE:EL) stocks ended 1.57% higher. In this report, we present some of the key events currently impacting the stock price movements of four cosmetics companies.

L’OrÃal

Shares of L’Oreal experienced an almost stable week ending at €137.50. The 52 week high and low for the stock has been €138.85 and €114.55, respectively. On November 27th, L’Oreal announced the project to end InnÃov, which is its joint venture with Nestlà (Read Press Release). On December 5th, L’Oreal announced its expansion in India by spreading out to more towns across the country.

We have a price estimate of $37 for L’OrÃal, about 9% higher than its current market price of $34. Our full FY14 revenue estimate stands at approximately €25.71 billion, compared to a consensus estimate of €22.5 billion.

EstÃe Lauder

Estee Lauder shares had slight fluctuations in its weekly share price movement, followed by some insider trading. The 52 week high and low for the stock has been $77.66 and $63.63, respectively. The Securities and Exchange Commission (SEC) has divulged that Ronald S Lauder, Chairman, Clinique Labs LLC, 10% Owner of Estee Lauder Companies , unloaded 250,000 shares at an average price of $74.01 on December 3, 2014. This heavy selling has resulted in the shares to fall at $73.91 intraday. The SEC also disclosed that in an earlier transaction, Michael OHare, EVP-Global Human Resources of Estee Lauder Companies, unloaded 2,963 shares at an average price of $71.96. In November, Estee Lauder expanded its presence in sub-Saharan Africa by rolling out its MAC brand in Kenya.

We have a price estimate of $85 for EstÃe Lauder, about 15% higher than its current market price of $74. Our full CY14 (ending December 2014) revenue estimate stands at approximately $10.8 billion, compared to a consensus FY15 (ending June 2015) estimate of $10.9 billion. We expect non-GAAP earnings per share of $2.69 this fiscal year, compared to consensus estimates of $3.06.

Revlon

Revlon has witnessed 35.98% year-to-date growth in its stock price. The company, on the back of its acquisition of The Colomer Group, witnessed margin expansions and a stronger performance in 2014. The 52 week high and low for the stock has been $35.26 and $22.12, respectively. In November, Revlon launched its first new tagline in 10 years: Love Is On.

We have a price estimate of $ 33 for Revlon, about 3% lower than its current market price of $34. Our full FY14 revenue estimate stands at approximately $1.93 billion, compared to a consensus FY14 estimate of $1.25 billion. We expect non-GAAP earnings per share of $2.19 this fiscal year, compared to consensus estimates of $1.25.

Avon Products

Avon has experienced a downhill trend in its stock price for this year. The stock price has declined by around 44% on a year-to-date basis. Recently taking into account the continued disappointing earnings from Avon Products and the delayed turnaround in its performance, we have downgraded our Trefis price estimate on Avon from $14.06 to $11.08 (Read our article here).

On November 26th, Zamansky LLC announced that the commencement of an investigation of Avon Product Inc.’s employee personal savings account plan for potential violations of the federal Employee Retirement Income Security Act. Avon Products has earned a “BBB-” credit rating from Morningstar. This implies that the company is at a moderate default risk.

We have a price estimate of $11 for Avon Products, about 9% higher than its current market price of $10. Our full FY14 revenue estimate stands at approximately $9.5 billion, compared to a consensus FY14 estimate of $8.9 billion. We expect non-GAAP earnings per share of $0.66 this fiscal year, compared to consensus estimates of $0.83.

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Starting a business in Las Vegas takes careful consideration and planning. It takes emotional and financial preparation and a commitment to invest the time required to see your endeavor succeed. The stakes are also high: Nationally, only half of all new businesses survive five years or more, and about a third survive 10 years, according to the US Small Business Administration. Despite the many challenges of starting a business, Las Vegas business owners say the rewards are plenty.

This year, Gallup surveyed small-business owners and asked them to look back to when they began their businesses. Here are the areas they said aspiring entrepreneurs should consider before starting and owning a business:

o Challenges. Make sure you have a solid business plan. Do research about your customers, your competitors and your industry, and meet with a financial adviser to review projected cash flow. Business owners said their No. 1 challenge was securing accounts and customers (23 percent), followed by cash flow (15 percent) and credit financing/availability of funds (10 percent).

o Funding. Starting a business or buying into a franchise requires a large initial investment. Small-business owners surveyed used personal savings (77 percent), loan or credit (41 percent), and family and friends (33 percent) to get off the ground.

Before you apply for credit, take time to understand what your business needs to do to be considered credit-ready and in the best position to secure financing.

o Rewards. In the Small Business Index survey, being your own boss was most often cited as the most rewarding aspect of being a business owner (42 percent). The next three top mentions were job satisfaction (17 percent), flexibility (12 percent) and interactions with customers (11 percent). Interestingly, only 7 percent said making money was the most rewarding aspect.

o Your financial future. Business owners were asked why they opened a small business, and securing their financial future and being their own boss were the most frequently mentioned.

However, most small businesses do not turn a profit immediately, so you need to make sure you have enough reserves on hand to cover your expenses. We typically advise business owners to plan on having enough working capital on hand to cover payroll, operations and other unplanned expenses for at least a year.

Building a small business in Las Vegas comes with many challenges, but the opportunities and rewards can be amazing. A successful business starts with asking the right questions. When you prepare, work hard and plan carefully, you can put yourself in position to reap the rewards.



In addition, he said in most developed economies of the world and even emerging economies, the major drivers of job creation, employment is the private sector through the efforts of individuals and corporate. The role of government is limited to creation of social infrastructure and conducive environment that will facilitate entrepreneurship and corporate in establishing industries, he said.

On his part, Dangote, who was chairman of the summit argued that despite Nigerias economic status, the level of unemployment in the country is high.

According to him, Nigeria has an attractive market but barriers to entry are high, posingcausing challenges for investors.

He said MSMEs drive job creation and innovation, however, access to finance for growth have hindered their growth over the years. Over 80 percent of MSMEs in the country are funded from personal savings and this is not helping for the growth of our economy. There is urgent need to address the constraints on SMEs to ensure they flourish.

Advising entrepreneurs to build competences , he said beyond every challenge is a great opportunity waiting to be received.



The Broward State Attorneys Office found that Sharief failed to disclose that she owned rental properties, didnt detail her retirement accounts and did not reveal her personal savings account. She also failed to disclose loan balances in two forms. In another, she overstated her income as a commissioner and didnt include one source of income.

She also incorrectly listed her business interests, making it impossible to tell whether her net worth disclosure was accurate; it dropped from $8 million to $4 million in one year.

Sharief, a mother and Miramar resident, is the domestic partner of Miramar City Commission candidate Maxwell Chambers.

She is represented in the ethics case Michael Moskowitz, a Democratic activist and lobbyist who appears before the County Commission.

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