Coty Sharply Lower After Q2 EPS Miss

Coty Inc COTY shares are trading lower by $2.40, or 12 percent, at $17.14 in Tuesday's session.

The catalyst for the sharp decline is a Q2 EPS miss of 9 cents despite beating on sales by $80 million.

After a lower open, Coty attempted to rally but peaked early in the session at $18.00 and continued its move lower. The follow-through decline took the stock to $16.08, but rebounded back into the $17.00 handle.

That marks the lowest level for Coty's stock since October 2014, when it bottomed at $15.74.