Estee Lauder (EL) fell 3.6% in early trading after the company forecast disappointing fourth quarter results, warning of a coming slowdown in China. The company’s third quarter earnings beat analysts’ expectations on strong U.S. sales of skin care products. European results were weak.
Madison Square Garden (MSG) handily beat analysts’ estimates, earning 40 cents per share versus expectations for 19 cents, and shares rose 3.8% in early trading. “MSG Sports delivered its most profitable quarter in our two year history as a public company,” said CEO Hank Rattner.
Washington Post (WPO) fell 0.6% after ad sales fell at its publications and enrollment at Kaplan University slid 18%. Core earnings fell 40% year-over-year to $10.8 million.
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