The Estée Lauder Companies Inc. (EL) shares plunged 21.75 percent, down $26.03, to $93.58 on Thursday, as investors reacted to the company's second-quarter results despite a return to profitability and higher sales.
The stock was trading at $93.58, compared with a previous close of $119.68 on the New York Stock Exchange. Shares opened at $104.75 and moved between an intraday low of $92.45 and a high of $106.22. Trading volume totaled about 7.77 million shares, well above the average volume of roughly 3.48 million shares.
Estée Lauder reported net income attributable to the company of $162 million, or $0.44 per share, compared with a net loss of $590 million, or $1.64 per share, in the prior-year quarter.
The stock is trading within its 52-week range of $48.37 to $121.64, and the company also declared a quarterly dividend of $0.35 per share.
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