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Market Movers

Avon rises the most in nearly 4 decades

Last year, Avon shares fell 18 percent for a third straight annual decline.

Associated Press/File 2005

Last year, Avon shares fell 18 percent for a third straight annual decline.

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Avon Products Inc. rose the most since January 1974 after quarterly adjusted profit of 37 cents per share topped estimates and the company said it will evaluate alternatives for its Silpada jewelry unit, where sales fell 18 percent. CEO Sheri McCoy, who took the helm of the door-to-door cosmetics seller in April, is cutting 1,500 jobs and leaving the South Korea and Vietnam markets as part of a plan to save $400 million by the end of 2015. Avon’s net loss widened to $162.2 million.

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