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Concentrix Falls, Netgear Rises, Estee Lauder Drops on News of Talks to Buy Puig
Published 1 month, 1 week ago
Description
On this episode of Stock Movers:
- Concentrix (CNXC) shares fall as the software company’s second-quarter forecast was weaker than expected. Vital Knowledge also notes “a modest shortfall on FQ1 EPS,” given margin compression.
- Netgear (NTGR) shares rise after the US Federal Communications Commission ordered a ban on the import of new models of foreign-produced consumer wireless routers. The ban comes after an inter-agency panel determined that the imports threaten national security.
- Estee Lauder (EL) shares drop on news that the company is in talks to buy Puig Brands SA, which would create a cosmetics giant with about $20 billion in annual sales.
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