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Estee Lauder Stock Falls on Disappointing Forecast
ELEstée Lauder(EL) Schaeffers Investment Research·2024-08-19 14:54

Shares of Estee Lauder Companies Inc (NYSE:EL) are brushing off a second-quarter results beat, down 1.3% at 93.73atlastglance,thoughparingsharperpremarketlosses.Thebeautyproductnamereportedadisappointingannualandquarterlyrevenueforecast,citingweakenedsalesinChina.Plus,long−timeCEOFabrizioFredaannouncedplanstoretirein2025.EsteeLauderisn′ttradingtoofarfromitsrecentAug.12seven−yearlowof93.73 at last glance, though paring sharper premarket losses. The beauty product name reported a disappointing annual and quarterly revenue forecast, citing weakened sales in China. Plus, long-time CEO Fabrizio Freda announced plans to retire in 2025. Estee Lauder isn't trading too far from its recent Aug. 12 seven-year low of 86.05. Year to date, the equity is down 35%, and at this point in the mon ...