Stock split boosts Revlon shares

By Associated Press
September 16, 2008 | Comments (0)

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Cosmetics maker Revlon Inc. on Tuesday said it completed its 1-for-10 reverse stock split.

The stock began trading on a split-adjusted basis when the market opened.

Shares closed up $12.91 after the stock split.

BMO Capital Markets analyst Connie Maneaty kept her "Market Perform" rating on the stock in a client note on Tuesday. She noted that the split reduces total shares outstanding to 51.2 million from 512 million, and expects the impact to be "minimal."

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