Estee Lauder Companies Inc (NYSE:EL) saw its shares slide more than 6% in premarket trading Tuesday after the company issued a fiscal third-quarter outlook that notably missed analyst expectations.
The property business gearing was 26% at the end of July 2024, well below the 60% covenant. The trust’s interest cover ratio was 1.9 times at the end of January 2024, versus a covenant of 1.5 times.
MO stock, with 41% returns since the beginning of 2024, has outperformed the S&P 500 index, up 27%. This can be attributed to the company’s decision to reduce its stake in Anheuser-Busch InBev last ...