Estee Lauder announced fiscal fourth-quarter results before the open today
Shares of Estee Lauder Companies Inc (NYSE:EL) are brushing off a fiscal fourth-quarter results beat, down 1.3% at $93.73 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 month, the stock is on track for its fifth-straight monthly loss.
Unsurprisingly, options traders are chiming in with triple the overall volume typically seen at this point. So far, 11,000 calls and 8,199 puts have crossed the tape, with the most activity at the weekly 8/23 100 call.