That Dubious Bid for Avon Sent Other Cosmetics Stocks Soaring

NEW YORK, United States — Shares of Avon Products climbed as much as 20 percent day, after a company called PTG Capital Partners submitted a filing to the SEC of an offer to buy the company.

Suspicions were immediately raised, however, when attempts to reach PTG were unsuccessful, and it appears that the law firm responsible for the filing does not exist. An Avon spokesperson told CNBC that the company is now treating the offer as hoax.

Whatever the result of the suspicious bid turns out to be, it wasn't only Avon stock that was affected.

Shares of several of Avon's competitors also spiked briefly, before coming back down. Here&aposs a look at what happened to some other cosmetics companies.

Coty jumped as much as 4.3 percent, after the news broke shortly before 11:40 a.m. ET.

Revlon rose close to 2 percent.

Estee Lauder was up 1.9 percent.

And Elizabeth Arden rose 3 percent.

By Dashiell Bennett, Tracy Alloway.