Revlon's stock (REV) was the highest gainer across the NYSE and Nasdaq today. The firm reported fourth quarter numbers that beat analysts' estimates. Wall Street analysts were expecting fourth quarter earnings of $380.4 million, but Revlon reported $391.3 million, an 8.8% increase from the previous year's fourth quarter. Net income was $46.5 million, a 28% increase from the previous quarter. Total domestic and international sales rose by 9%.
Revlon also announced that it had priced a previously announced senior notes offering at 5.75%. Moody’s (a ratings company) increased its ratings on Revlon’s bond and assigned a B1 rating to the firm’s senior notes offering.
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