Estee Lauder (EL.US) is trading over 5% lower and is one of the worst performing S&P 500 members. Company is pulling back after CEO of L'Oreal, one of Esee Lauder's main rivals, warned of sales slowdown in China yesterday and launched a pullback on beauty stocks.
Nicolas Hieronimus, CEO of L'Oreal, said at a JPMorgan event on Thursday that he now expects global beauty market to grow 4.5-5% this year, down from his previous forecast of 5% growth. Hieronimus said that the downward revision can be blamed on flat market in China, which has been a driver of growth for companies like L'Oreal.
Taking a look at Estee Lauder (EL.US) chart at H4 interval, we can see that the stock is taking a hit today, dropping to the lowest level since the beginning of November 2023. Stock is trading 5% lower today, following yesterday's 2% drop.
Source: xStation5
ملخص السوق: الأسهم الأوروبية تسجل أعلى مستوياتها في ثلاثة أسابيع! انخفاض سهم أبل في تداولات ما قبل افتتاح السوق الأمريكية!
حصاد الأسواق: الذكاء الاصطناعي يُعزز الانتعاش. التكنولوجيا تعود بقوة
لا تزال شركة آبل مثيرة للإعجاب، لكن السوق لم يعد منبهراً بها.
بدأ رهان أمازون الضخم على الذكاء الاصطناعي يؤتي ثماره
