Estee Lauder shares are trading lower after peer Ulta Beauty reportedly issued weak guidance at a conference.
Portfolio Pulse from Benzinga Newsdesk
Estee Lauder's stock price declined following Ulta Beauty's announcement of weak guidance at a conference, indicating potential industry-wide concerns.
April 03, 2024 | 2:18 pm
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Estee Lauder's shares fell after Ulta Beauty, a peer company, issued weak guidance, potentially reflecting broader sector challenges.
Estee Lauder's stock decline is directly linked to Ulta Beauty's weak guidance, suggesting investors may be concerned about similar challenges facing Estee Lauder. The news from a peer company often leads to market reactions among similar companies due to perceived shared industry risks.
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