Sector Wrap: Cosmetics rise

NEW YORK - Shares of cosmetic companies rose Monday, following the broader markets higher on news that the Bush administration plans to move quickly to implement its $700 billion rescue program. The Bush administration said it is moving quickly to consult with law firms about the mechanics of buying ownership shares in a broad number of banks. All the major indexes advanced more than 9 percent. Shares of Avon Products Inc. gained $2.94, or 10 percent, to $32.26. In a client note, Citi Investment Research analyst Wendy Nicholson lowered her target price to $51 from $55 to reflect overall market weakness, but that still implies... [read full story]                    

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