Shares of The Estée Lauder Companies (EL) are on watch after traders accelerated their decline. EL stock dropped by 7.92% on Thursday, following a downtrend that began in January. Last month, the firm posted weak margins. It booked $100 million in costs related to incremental tariffs.
EL stock is under pressure after Ulta Beauty (ULTA) traded lower. Ulta posted Q4 results that disappointed investors, while its outlook for this year indicated weak same-store sales.
Investors who missed out on the rapid runup in oil stocks moved on to the chemicals industry. Bracing for a standstill in shipments through the Strait of Hormuz, firms like Dow (DOW) and LyondellBasell (LYB) benefit from rising fertilizer prices.
In the software sector, Adobe Systems (ADBE) shattered the notion that the company is on the mend. The CEO announced that he would leave the firm. Despite posting $6.06 in EPS (non-GAAP), the CEO’s departure after 18 years adds uncertainty for Adobe’s future. AI is enabling amateur video and image creators to produce content cheaply.
Adobe’s AI solution, Firefly Enterprise, achieved 50% year-over-year growth in new customer acquisitions.
Other software firms are performing poorly, too. The rebound in shares of Autodesk (ADSK), Salesforce (CRM), and Snowflake (SNOW) is showing signs of losing momentum.
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