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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Apr 10, 2012
Page
17
Facebook announces a 1 billion dollar cash and stock acquisition of Instagram, the photo sharing app known for filters evoking 1970s and Polaroid looks. Zuckerberg says Instagram will stay independent and continue cross posting while adding followers and separate friend networks.
Avon Products Inc. says Jung will stay on as executive chairman as McCoy takes over as CEO later this month. The NY based firm shares rose over 3 percent as it prepares for leadership change amid a ongoing earnings questions and a prior Coty takeover bid.
The timeline traces Avon from its 1886 founding as the California Perfume Company by David McConnell to its 2012 leadership with Sherilyn McCoy. It notes milestones including the first brochure in 1896, a shift to public trading in 1949, TV adverts in 1953, Skin So Soft in 1961, Tiffany & Co. acquisition in 1979, and China market moves in 1990s and 2000s.
Ohio motorists report a 6 cent drop in average gasoline price over the past week with AAA OPIE and Wright Express data showing about 3.77 dollars per gallon. Last week averaged 3.83 dollars and the 12 month comparison sits around 3.79 dollars.
Investors return from a three day break to a broad stock drop as March job gains disappoint. The Dow falls 130.55 to 12,929.59, the S&P loses 15.88 to 1,382.20, and the Nasdaq slips 33.42 to 3,047.08. Financials lead declines while Sherwin Williams climbs after lifting profit guidance.
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