Estee Lauder (EL)
Wanna feel pretty? Maybe you should check out Estee Lauder skin care products - faces for the company include mega-babes Gwyneth Paltrow and Elizabeth Hurley. Besides its own line of creams and lipsticks, Estee Lauder also has agreements with top brands like Sean John, Daisy Fuentes, Coach, and Clinique.
Estee Lauder Boosts Q2 EPS View to $1.23 and $1.30, Shares Rise Nearly 8%
10:37 AM Eastern Standard Time, 01/21/2010 (MidnightTrader) -- Estee Lauder Cos. (EL) is higher after saying late Wednesday that it expects Q2 financial results will exceed its previous expectations.
The company sees reported net sales growth of between 10% and 11% and diluted net earnings per share of between $1.23 and $1.30. Charges associated with restructuring activities are expected to be minimal for the quarter. A Thomson Reuters analyst poll, which usually excludes one-time items, expects profit of 89 cents per share.
Estee Lauder cited its favorable product mix, positive effect of continued cautious spending and strong growth in Asia for the results. The company also said its travel retail business and the holiday season in the U.S. helped results.
The company sees Q2 impairment charges related to two of its underperforming business units. For the remainder of the fiscal year, the company plans to accelerate investment spending well above first-half levels.
Price: 52.85, Change: +3.81, Percent Change: +7.77
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Today's gain: $-0.66 (-1.00%)
