Caris Downgrades Avon On Service Disruptions

NEW YORK (AP) — Shares of cosmetics company Avon Products Inc. were downgraded on Monday by a Caris & Co. analyst, who warned that Wall Street's second-quarter earnings estimate may be too high, as certain products have not been available to shoppers.

Analyst Linda Bolton Weiser downgraded the stock to "Above Average" from "Buy" and said some cosmetics have not been available to consumers. Weiser said sales representatives have noted problems with product availability, partly because of promotional discounts.

Also, some of Avon's suppliers have closed their factories because of the tough economy. ...