NEW YORK—Shares of cosmetics makers slipped Friday, following a week filled with outlook news, acquisitions and personnel changes that affected several companies in the sector.
Shares of Revlon Inc. declined 5 cents, or 6.3 percent, to 74 cents.
Earlier this week, Revlon said it expects to swing to a profit in the second quarter on strong sales of newly launched products.
Elsewhere, shares of New York-based Estee Lauder Cos. fell 60 cents to $43.41.
On Friday, the company said it purchased a minority stake in a privately held Indian company that manufactures and sells beauty products. Financial terms of the agreement were not disclosed.
Estee Lauder Chief Executive William P. Lauder said the purchase gives the company a stronger presence in India's rapidly growing prestige beauty business.
Meanwhile, shares of Elizabeth Arden Inc. slipped 8 cents to $15.40, and Avon Products Inc.'s stock slipped 18 cents to $36.21.
On Wall Street, stocks fluctuated following disappointing earnings from Google Inc., and investment bank Merrill Lynch & Co. reported a big quarterly loss. However, Citigroup Inc. reported a smaller-than-expected second-quarter loss.
