Ultime notizie per L'Oreal (OTC:LRLCY) Azioni

L'Oreal

L'OREAL CO ADR

Founded in 1909, L'Oreal has grown into the largest beauty company in the world, participating in categories including skincare (40% of sales), makeup (20%), haircare (27%), fragrance (9%), and sanitary products (4%). The firm also has a diversified geographic footprint, generating 33% of sales in Europe, 27% from North America, 24% in North Asia, and the rest from various emerging markets across South Asia, Latin America, and Africa. L'Oreal owns a mix of premium and mass beauty brands sold through a wide range of channels such as mass retail, drugstores, department stores, travel retail, e-commerce, hair salons, and medi-spas. Leading brands include Lancome, Yves Saint Laurent, Maybelline, Kiehl's, L'Oreal Paris, Kerastase, CeraVe, Garnier, and Armani.

L'Oreal SA

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"L'Oréal Boss Says It Is 'crunch Time' For Europe To Boost Its Competitiveness" - Financial Times

Guidance

L'Oreal Says Confident In Its Ability To Keep Outperforming Global Beauty Market And Achieve Another Year Of Growth In Sales And Profit

Earnings

L'Oreal Reports FY Revenue €43.48B; FY Operating Profit €8.69B; FY EPS €12.66

Pharmaceutical and healthcare company Sanofi SA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>) has announced the purchase of 2.3% of its shares from its long-standing investor, L&#8217;Oréal SA (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LRLCF#OTC">LRLCF</a>), as part of its <a target="_blank" href="https://www.sanofi.com/en/media-room/press-releases/2025/2025-02-03-06-30-00-3019186" rel="noreferrer noopener">ongoing share repurchase initiative</a>.
Sanofi&#8217;s Board of Directors has authorized the purchase of 29.6 million shares from L&#8217;Oréal, reflecting a discount of 2.8% to the closing price on January 31, 2025.
The total transaction amounts to 3 billion euros ($3.07 billion) and after the deal is finalized, the acquired shares will be canceled by Sanofi no later than April 29, 2025.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/25/01/43395171/walmart-canada-to-invest-about-3-8-billion-over-five-years" rel="noreferrer noopener">Walmart Canada To Invest About $3.8 Billion Over Five Years</a>
&#8220;We are pleased to retain L&#8217;Oréal as one of our largest shareholders. This transaction highlights Sanofi&#8217;s dedication to sustainable value creation while upholding our strategic priorities and preserving the strength of our key partnerships,&#8221; said CFO François Roger.
The acquisition will take place through an off-market block transaction, with no additional conditions, and is anticipated to be finalized in the coming days.
After the shares are canceled, L&#8217;Oréal will retain 7.2% of Sanofi&#8217;s total share capital and 13.1% of its voting rights.
The action is anticipated to boost Sanofi&#8217;s earnings per share, strengthening the company&#8217;s financial standing and providing additional value to its shareholders.
For L&#8217;Oréal, the <a target="_blank" href="https://www.loreal.com/en/press-release/group/agreement-between-loreal-and-sanofi/" rel="noreferrer noopener">transaction </a>is aimed at improving its financial structure, especially considering its recent acquisitions, while also broadening its financing sources.
Price Action: SNY shares are trading lower by 1.79% at $53.37 in premarket at the last check Monday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/01/43399775/colgate-palmolive-beats-q4-eps-estimates-but-faces-sales-struggles-says-analyst" target="_blank" rel="noreferrer noopener">Colgate-Palmolive Remains One Of The Highest-Quality Names Despite Tough End-Market Backdrop: Goldman Sachs</a></li>
</ul>
Image: Shutterstock/ bangoland.

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Sanofi Buys Back ~$3 Billion In Shares From L'Oréal: Details

The acquisition is structured as an off-market block trade and is not subject to any specific conditions. The acquisition is pursuant to an agreement approved by Sanofi's Board of Directors as a related-party agreement, in compliance with article L.225-38 of the French Commercial Code, entered into on February 2, 2025. It is expected to be completed in the coming days. The transaction will involve the acquisition of 29,556,650 shares at a price of €101.50 per share, reflecting a discount of 2.8% to the closing price on January 31, 2025. The total consideration of the transaction amounts to €3 billion. Shares acquired from L'Oréal will be cancelled at the latest on April 29, 2025. The acquisition of these shares is expected to be accretive to Sanofi's earnings per share, further enhancing shareholder value.
After cancellation of the shares and excluding treasury shares, L'Oréal will own 7.2% of Sanofi, with 13.1% of voting rights1.

Sanofi Acquires 2.3% Of Its Shares From L'Oréal In €3B Buyback To Enhance Shareholder Value

L'Oreal Q2 North Asia Comp Sales -2.4% Vs -0.62% Est.

Macro Economic Events

Economics

L'Oreal CEO Says Luxury Make-Up Growing In Double-Digits, Luxury Skincare Impacted By Lack Of Rebound In China; We Have Seen More Acceleration Of Mass Market In China In Q1 Vs U.S. And Slowdown Of Luxury

L'Oreal CEO Says Europe Market Has Absolutely Not Slowed Down, Company Is Gaining Share

L'Oreal CEO Says China Sales Grew By More Than 6% In Q1, Well Above Market Growth Of 1%; Makeup Has Slowed The Most In North America, But Fragrance Doing 'Great'

L'Oreal Q1 Sales €11.24 Billion, +9.4% Like-For-Like; Q1 Sales In North America +12.3% Like-For-Like At €3.02 Billion

The renowned French beauty conglomerate&nbsp;L'Oreal SA&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/LRLCY#OTC">LRLCY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LRLCF#OTC">LRLCF</a>) is reportedly mulling over an investment opportunity in Omani luxury fragrance brand&nbsp;Amouage.
L'Oreal is in discussions regarding a potential acquisition of a minority stake in Amouage, reported Bloomberg, citing sources familiar with the matter.
Amouage, rooted in Oman's rich cultural heritage, is exploring a valuation exceeding €3 billion ($3.2 billion) for any prospective deal. Known for its opulent perfumes, Amouage has seen robust growth, with retail sales surpassing $210 million in 2023.
Founded in 1983, Amouage draws inspiration from Oman's historic significance as a trading hub for incense and myrrh.
Its premium fragrances, often dubbed as "the Gift of Kings," command prices as high as €365 for a 100-milliliter bottle, available in select boutiques and numerous retail outlets worldwide.
L'Oreal, a major player in the beauty industry, has been actively expanding its portfolio through acquisitions and licensing agreements.
Price Action: LRLCY shares closed lower by 2.28% at $90.94 Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons

Media

Scent-sational Move: L'Oreal Reportedly Considers Dive into Omani Luxury with Amouage Stake

Goldman Sachs has flagged an increasing concern over the U.S. stock market&#8217;s heavy concentration and the dominant sway of its largest tech stocks, urging investors to broaden<a href="https://www.benzinga.com/news/global"> their geographical diversification.</a> 
According to Goldman Sachs equity analyst Ben Snider, &#8220;Concentration within the US equity market has surged to a multi-decade high,&#8221; with the 10 largest U.S. stocks now representing &#8220;33% of S&amp;P 500 market cap and 25% of S&amp;P 500 earnings.&#8221;
This level of market concentration, the highest in decades, has skewed overall market performance, propelling the S&amp;P 500 by 30% over the past year, while the median index constituent, as tracked by the Invesco S&amp;P 500 Equal-Weight ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RSP#NYSE">RSP</a>) only saw an 11% rise. The phenomenon has sparked widespread anxiety among the investment bank&#8217;s clients, wary of the &#8220;extreme current degree of market concentration&#8221; as unprecedented in recent history.
Peter Oppenheimer, Goldman Sachs&#8217; chief global equity strategist, underscored the fleeting nature of corporate dominance, noting, &#8220;dominant companies rarely stay the best performers over long periods of time.&#8221; 
Historical data supports this claim. Just over 10% of the Fortune 500 companies from 1955 maintain their status to the present day. This sheds light on the potential risks of over-concentration in today&#8217;s market giants.
A Call for a Barbell Strategy: Despite high concentration, today&#8217;s companies are not valued like those from the dot-com era. The current U.S. top 10 stocks boast higher profit margins and return on equity (ROE) than their predecessors. Valuations, while robust, are justified by their superior returns on capital.
However, Goldman Sachs noted that &#8220;investors face a flatter trajectory for equity markets over the next few years as a higher cost of capital and less globalization mean lower returns.&#8221;
Analysts advised investors to adopt a &#8220;barbell approach&#8221; to investing. This strategy recommends a mix of defensive companies with strong balance sheets, mature cash-generative firms, and smaller-cap entities with lower valuations.
Spotlight on Japan: Japan emerged as a particularly promising market. Goldman Sachs sees it as a &#8220;restructuring opportunity&#8221; where the bank is overweight. 
Moreover, investors favor the healthcare sector — excluding Japan — for its combination of relative cheapness. It also has high growth potential, likely to benefit from advancements in AI technology. 
European GRANOLAS, a group of 11 major companies in the STOXX 600 –&nbsp;including GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>), Roche Holding Ltd (OTCPK: RHHBY), ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) , Nestle S.A. (OTCPK: NSRGY), Novartis AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>), Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>), L&#8217;Oréal Co. (OTCPK: LRLCY), LVMH-Moet Hennessy Louis Vuitton (OTCPK: LVMHF), AstraZeneca plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>), SAP SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>), and Sanofi (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNI#NASDAQ">SNI</a>) –&nbsp;are highlighted for their lower valuations compared to their U.S. counterparts and solid performance. 
&#8220;These stocks trade at a lower valuation (around 20x P/E) than the Magnificent 7 and have performed well,&#8221; Goldman Sachs wrote. &nbsp;
Read now: <a href="https://www.benzinga.com/general/biotech/24/03/37567088/novo-nordisks-game-changer-fda-approves-weight-loss-sensation-wegovy-for-heart-health-potential-i">Novo Nordisk&#8217;s Game-Changer: FDA Approves Weight Loss Sensation Wegovy For Heart Health, Potential Insurance Coverage</a>
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Top Wall Street Analysts Flag US Market Concentration Anxiety, Advise Investors To Adopt 'Barbell Approach'

While many of the world&#8217;s investors remain focused on "<a href="https://www.benzinga.com/markets/equities/24/02/36897355/what-are-the-magnificent-7-stocks-why-do-they-dominate-the-market">The Magnificent Seven</a>" — a group of tech stocks that significantly outperformed in 2023 — a small group of European stocks has quietly outperformed most of the world. 
Based on the first letters of their names, Goldman Sachs dubbed this group &#8220;Granolas,&#8221; and it accounted for 50% of gains of the Stoxx Europe 600 Index for the past year.
<h3 class="wp-block-heading">Who are the Granolas?</h3>
Granolas refers to a group of 11 European stocks operating in the healthcare and pharmaceutical sector, with an addition of luxury, consumer staples, industrial manufacturing and software technology. They include:
<ul>
<li>GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>): The pharmaceutical company, founded in 1715, operates through four segments: Pharmaceuticals, Pharmaceuticals R&amp;D, Vaccines, and Consumer Healthcare. The company's arguably most famous product is pain reliever Advil. Its stock trades at 13.8x the earnings — below the industry's average. It pays a 3.5% dividend with a reasonable 48% payout ratio. One potential weakness is its high level of debt, which grew during the COVID-19 pandemic but has been improving over the last two years.</li>
</ul>
<ul>
<li>Roche Holding AG (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/RHHBY#OTCQX">RHHBY</a>): The Swiss pharmaceutical giant touts over 100,000 employees and has a broad portfolio of products, including in vitro tests for various diseases such as cancer, diabetes, COVID-19 and others. It boasts a healthy 19% profit margin and a price-to-earnings ratio 16.1x, which is well below the industry average. The company, founded in 1896, pays a stable and growing 4.1% dividend with a reasonable 67% payout ratio. Its debt-to-equity ratio has doubled from 40% in 2019 to over 80% in the aftermath of the COVID-19 Pandemic.</li>
</ul>
<ul>
<li>ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>): Dutch developer, producer and seller of advanced semiconductor equipment systems for chipmakers. It is a key company in the global semiconductor supply chain and the only company capable of supplying extreme ultraviolet lithography technology. This technology is crucial for producing the most advanced microchips with nodes as small as 7,5 or 3 nanometers. A single machine costs more than $200 million. Its stock trades at 43.4x its earnings. The company has a net profit margin of over 28% but pays a minuscule dividend of 0.7%. It has an excellent balance sheet, with cash exceeding the debt by almost 50% and a forecasted annual growth of 15.6%.</li>
</ul>
<ul>
<li>Nestlé S.A. (OTCPK:NSRGY): The food and beverage conglomerate has over 270,000 employees and operates household brands such as Nescafe, Nespresso, Maggi, Thomy and Hot Pockets. Its stock trades at 22.3x, above the European average for that industry, but expected given the company's status. Its net profit margin is hovering around 12%, and its sustainable 3.1% dividend has been stable. However, the company has doubled its debt over the last ten years and it currently amounts to almost $60 billion.</li>
</ul>
<ul>
<li>Novo Nordisk (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>): Danish global pharmaceutical company specializing in diabetes and obesity care and rare diseases. The company's most famous product is Ozempic, a diabetes treatment that has gained popularity as a <a href="https://www.benzinga.com/general/biotech/24/02/37284940/obesity-solutions-like-weight-loss-drugs-to-act-as-catalyst-for-economic-surge-goldman-sachs-fore">weight loss drug</a>. Ozempic alone generated almost $14 billion in revenues in 2023, three times more than its second-best product, Wegovy. The stock trades around 45x its earnings, with a solid net profit margin of 36%. The company also pays a 1.1% dividend, which is below the industry average. However, its balance sheet is pristine, with comfortably more cash than debt and growth prospects of around 13%.</li>
</ul>
<ul>
<li>Novartis (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>): In 2023, the company generated $45.5 billion in revenues, mainly from the U.S. ($18 billion) and Europe ($13 billion). Its products include Cosentyx, cardiovascular drug Entresto and Piqray, a cancer-treating drug. The stock trades at 24.8x its earnings, with a net profit margin of 18.3%. It pays a notable 3.6% dividend, but the payout ratio has been stretched to 95%. Novartis carries $24.6 billion of debt, but it is not a concerning sum, given the company&#8217;s size. </li>
</ul>
<ul>
<li>L&#8217;Oréal S.A. (OTCPK:LRLCY): French manufacturer and seller of cosmetic products. Often considered the world's most valuable cosmetics brand, under its umbrella it operates brands such as Maybelline New York, Garnier, NYX Professional Makeup, CeraVe, and Redken. The stock trades at 38.9x its earnings with a net profit margin of 15%. Its 1.5% dividend is not notable but boasts a low payout ratio, stability and comfortable growth potential. The balance sheet is strong, with a debt-to-equity ratio of less than 10%, indicating conservative risk practices.</li>
</ul>
<ul>
<li>LVMH Moët Hennessy &#8211; Louis Vuitton Société Européenne (OTCPK:LVMHF): French-based, globally-operating luxury goods company owns iconic brands like Louis Vuitton, Tiffany &amp; Co., Christian Dior, Fendi, Givenchy, Princess Yachts, TAG Heuer, Hublot, Dom Pérignon, Hennessy and many others. Its CEO, Bernard Arnault is the wealthiest person in the world <a href="https://www.forbes.com/sites/forbeswealthteam/article/the-top-ten-richest-people-in-the-world/">per</a> Forbes' 2024 list. The stock trades at 28x its earnings with a 17.61% net profit margin. The company pays a 1.5% dividend, which is the industry average, but owing to a low payout ratio there is plenty of room for growth. The balance sheet is very strong, with some debt in the aftermath of 2020, but it is not notable given the company's size.</li>
</ul>
<ul>
<li>AstraZeneca PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>): The UK-based biopharmaceutical company developed the Oxford- AstraZeneca COVID-19 vaccine, sold under brand names Vovishield and Vaxzevria. The stock trades at 33.8x its earnings with a net profit margin of 13%. A 2.2% dividend is below the industry average but has sustained steady growth over the last decade. In 2021, the company took on almost $10 billion of debt, which remains a burden on the balance sheet, although some of it has already been paid off.</li>
</ul>
<ul>
<li>Sanofi (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>): French-based healthcare company focusing on neurology, immunology, rare diseases, oncology, rare blood disorders and cardiovascular diseases. Its most famous product is DUPIXENT (Dupilumab), a drug used for atopic dermatitis and asthma. The company trades at 20.6x its earnings with a net profit margin of 11.7%. A dividend is Sanofi's strong side, paying 4.2% with a track record of stability and growth. The balance sheet is strong, with debt decreasing, equity rising and comfortable levels of cash and short-term investments.</li>
</ul>
<ul>
<li>SAP SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>): The German enterprise application software provider is a global leader in enterprise resource planning (ERP) software and the largest non-American software company by revenue. It trades at 53.9x its earnings, the highest valuation from the GRANOLAS list. The company has a 12% profit margin and pays an unimpressive 1.2% dividend. It boasts a strong balance sheet with more cash than total debt, indicating management's conservative approach to risk.</li>
</ul>
<h3 class="wp-block-heading">Granolas vs. The Magnificent Seven</h3>
There are three main advantages these stocks hold over The Magnificent Seven.
<ol>
<li>Low Volatility: These stocks are not as volatile as The Magnificent Seven, and they achieve similar results. Investors can compare these two groups by measuring the stock's average <a href="https://www.benzinga.com/money/how-to-calculate-beta">Beta</a>, a measure of volatility compared to the underlying market index. Another popular metric to show the impact of such investments is the Sharpe ratio. It&#8217;s one of the most widely used metrics for <a href="https://www.benzinga.com/money/understanding-risk-adjusted-return">measuring risk-adjusted return</a>.</li>
<li>Lower Valuation Multiple: The lower valuation of European stocks is noteworthy. On average, their price-to-earnings ratio is around 30. For the Magnificent Seven, this is over 46x as of March 2024.</li>
<li>Higher Dividend Yield: The Magnificent Seven are not known for their yield. Only three stocks of the group pay a dividend, with the highest one (Apple) yielding a paltry 0.5%. On the other hand, every single GRANOLAS stock pays a dividend, averaging a 2.42% yield. Combined with lower volatility, this fact makes them particularly attractive to long-term yield-oriented investors.</li>
</ol>
<h3 class="wp-block-heading">Investing In Granolas Via ETFs</h3>
Although many of the Granola stocks trade on U.S. exchanges, domestic investors might consider the VanEck Pharmaceutical ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PPH#NASDAQ">PPH</a>), which invests in the largest pharmaceutical companies.
Pacer Trendpilot European Index ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/PTEU#BATS">PTEU</a>) is another option. It is biased toward large-cap Eurozone equities, with 3/5 top holdings in GRANOLAS.
European investors should opt for iShares Core EURO STOXX 50 ETF. It offers over 40% of portfolio exposure to Granolas, or SPDR MSCI Europe Health Care UCITS ETF, which focuses on European healthcare industry.
Now Read: <a href="https://www.benzinga.com/news/large-cap/24/02/37287732/gold-miner-newmont-looks-to-sell-assets-reduce-8b-debt-load">Gold Miner Newmont Looks To Sell Assets, Reduce $8B Debt Load</a>
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11 'Granolas' Stocks Outperform Magnificent 7 With Lower Volatility, Higher Yields

In a historic milestone for women in business, 70-year-old Francoise Bettencourt Meyers, the heiress to the L&#8217;Oreal fortune, has become the first woman to exceed a net worth of $100 billion.
What Happened: Bettencourt Meyers&#8217; wealth rose to a staggering $100.2 billion, Bloomberg <a href="https://www.bloomberg.com/news/articles/2023-12-28/l-oreal-heir-francoise-bettencourt-meyers-is-first-woman-to-hit-100-billion">reported</a> on Thursday. The significant increase in her wealth is primarily connected to the record-breaking shares of L'Oréal SA (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LRLCY#OTC">LRLCY</a>), the beauty magnate established by her grandfather, experiencing its most successful year since 1998.
Despite this considerable fortune, Bettencourt Meyers is still behind Bernard Arnault, the founder of LVMH Moet Hennessy Louis Vuitton SE (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LVMUY#OTC">LVMUY</a>), whose wealth is estimated at $179.4 billion. The thriving luxury retail sector in France has led to the creation of several ultra-wealthy families.
See Also: <a href="https://www.benzinga.com/news/23/12/36408139/marjorie-taylor-greene-labels-hunter-bidens-congressional-deposition-no-show-as-impeachable-offense?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Marjorie Taylor Greene Labels Hunter Biden&#8217;s Congressional Deposition No-Show As &#8216;Impeachable Offense&#8217;</a>
The Bettencourt Meyers family owns the majority stake in L'Oréal, roughly 35%. The company, which has a market value of €241 billion ($268 billion), has been under the management of non-family executives for multiple decades.
Following her mother&#8217;s passing in 2017, Bettencourt Meyers&#8217; fortune received a substantial boost. A legal battle over the family&#8217;s wealth became a political scandal, recently featured in a three-part documentary on Netflix.
According to Brett Cooper, an analyst at Consumer Edge Research, L'Oréal&#8217;s stock could see a further rise of around 12% in the coming year, thanks to its product range and global diversity.
Why It Matters: The rise of Bettencourt Meyers&#8217; fortune marks a significant shift in the wealth landscape, <a href="https://www.benzinga.com/general/entrepreneurship/23/01/30424327/yes-elon-musk-is-rich-and-so-is-bill-gates-but-who-are-the-wealthiest-women-in-the-wor-3">historically dominated by men</a>. In April 2023, the wealth gap between men and women has been gradually narrowing as more women assume leadership and ownership roles in companies. High-profile business figures like Elon Musk, Bernard Arnault, Gautam Adani, and Bill Gates have traditionally dominated the world's richest rankings. 
Read Next: <a href="https://www.benzinga.com/news/23/12/36381408/lincoln-project-mocks-former-president-with-trump-smells-ad-campaign-donald-is-that-you?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Lincoln Project Mocks Former President With &#8216;Trump Smells&#8217; Ad Campaign: &#8216;Donald, Is That You?&#8217;</a>
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LVMUY

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L'oreal Heiress Francoise Bettencourt Meyers First Woman To Cross $100B Wealth Milestone

L&#39;Or&eacute;al&nbsp;Co.&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/lrlcf#OTC">LRLCF</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/lrlcy#OTC">LRLCY</a>), a global leader in the beauty industry, is undergoing significant transformations under the leadership of its CEO, Nicholas Hieronimus, according to a&nbsp;note&nbsp;by Bloomberg.
Hieronimus <a href="http://www.bloomberg.com/news/articles/2023-09-21/l-oreal-ceo-sees-beauty-market-rising-to-400-billion-by-2030?srnd=premium-asia&amp;sref=TBDibEcD">projects</a> the beauty market to escalate to a staggering &euro;400 billion ($426.8 billion) by 2030, up from its current &euro;270 billion.
Embracing Beauty Tech
The most significant transformation in the beauty industry, according to Hieronimus, is the integration of advanced technology, the report added.&nbsp;
L&#39;Or&eacute;al is harnessing the power of AI to enhance the performance of beauty products, offering personalized solutions and advanced diagnostics, Bloomberg added.&nbsp;
The company&#39;s commitment to technology is evident, with an annual investment exceeding $1 billion to pioneer the beauty tech frontier.
L&#39;Or&eacute;al&#39;s dedication to sustainability began in the early 2000s, leading to a significant reduction in CO2 emissions.&nbsp;
While the company is reportedly committed to using 100% recycled plastic by 2030, the limited availability of recycled plastic presents challenges. To address this, L&#39;Or&eacute;al is investing in new technologies to convert waste into recyclable plastic, Bloomberg reported.
3 Beauty Stocks With Upward Potential
Coty Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/coty#NYSE">COTY</a>): Following the sizzling debut of its Burberry Goddess scent and other blockbuster releases, Coty has confidently amped up its FY24 forecasts. The company is now expecting core LFL sales growth in the<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/09/34759271/why-coty-shares-are-shooting-higher-today" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">&nbsp;first half of FY24 of +10-12% (prior view: +8-10%)</a>. Two of Coty&#39;s fragrance innovations are among the top five of the fall. Coty now has three fragrance lines in the U.S. top 10.
Ulta Beauty, Inc.&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ulta#NASDAQ">ULTA</a>): Following street-beating performance in Q2, Ulta raised its full-year 2023 revenue from a range of $11 billion to $11.1 billion to a&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/analyst-ratings/analyst-color/23/08/33988399/despite-hair-category-challenges-ulta-beauty-set-for-steady-q2-performance-with-eye" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">new range of $11.05 billion to $11.15 billion</a>. The retailer also raised its full-year adjusted earnings guidance from a range of $24.70 to $25.40 per share to a new range of $25.10 to $25.60 per share.
Inter Parfums Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ipar#NASDAQ">IPAR</a>): IPAR reported a 2Q23 sales increase of 26% to $309 million, beating consensus of $282 million. The company raised its 2023 sales guidance to $1.3 billion from $1.25 billion. The newest pillars in the GUESS franchise&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/analyst-ratings/analyst-color/23/07/33374348/inter-parfums-q2-sales-growth-comes-as-a-surprise-says-analyst" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Seductive Blue and Uomo Acqua were key growth drivers</a>. IPAR also called out the strong performance of Ferragamo and Oscar de la Renta.
Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/09/34766048/hydrafacial-brand-owner-beauty-health-plans-to-initiate-stock-repurchase-program-next-week" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Hydrafacial Brand Owner Beauty Health Plans To Initiate Stock Repurchase Program Next Week</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

COTY

IPAR

SKIN

Beauty Stock Bonanza: L'Oréal Foresees A $427 Billion Market By 2030 — Here Are The Stocks That Could Benefit

Oppenheimer&nbsp;analyst Rupesh Parikh reiterated an<a class="editor-rtfLink" href="https://www.benzinga.com/quote/ULTA/analyst-ratings" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">&nbsp;Outperform rating&nbsp;</a>on the shares of&nbsp;Ulta Beauty Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ulta#NASDAQ">ULTA</a>) with a price target of $540.
The company is expected to report its second-quarter FY23&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/calendars/earnings" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">earnings on August 24.</a>
Based on the review of recent data points, the analyst still sees a healthy beauty backdrop with continued strength in the mass category.
According to the analyst, headwinds remain in the hair category for ULTA, with a difficult Olaplex lap and still challenged hair tools, which could limit the magnitude of comp upside.
For Q2, consensus estimates for a comp increase of 6.3% and EPS of $5.83 appears achievable. The analyst believes the backdrop is slightly more promotional Y/Y.
ULTA shares trade more consistent with historical trough levels at 17.4x NTM consensus estimates. The current level is an attractive entry point for the longer-term players.&nbsp;
The analyst will continue to monitor student loan impacts on the beauty category, a likely increased promotional intensity Y/Y, and prestige brand additions on&nbsp;Amazon.com Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>), with&nbsp;L&#39;Oreal Co&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/lrlcy#OTC">LRLCY</a>) moving more aggressively on the platform.&nbsp;
On the guidance front, the analyst expects ULTA to maintain the FY23 guide, even with any potential Q2 upside, amidst a more uncertain 2H with the pending student loans restart and the typical conservative nature of the management team.
Price Action: ULTA shares are trading lower by 4.03% at $429.88 on the last check Tuesday.

Price Target

Reiteration

Trading Ideas

AMZN

Despite Hair Category Challenges, Ulta Beauty Set For Steady Q2 Performance With Eye On Amazon's Prestige Brands: Analyst

The French stock market, as represented by the CAC 40 index, has risen for five days this week, gaining 3.3% and marking the best weekly performance since <a href="https://www.benzinga.com/markets/eurozone/23/04/31766176/french-cac-40-index-rockets-to-new-heights-on-luxury-stocks-wings-as-us-inflation-rate-slows" target="_blank" rel="noreferrer noopener">the end of March</a>.
This occurred despite the fact that nationwide protests have erupted in recent days, with images of burning streets and police use of tear gas capturing the attention of the world, highlighting the deep divisions and tensions within French society.
The police shooting death of a 17-year-old boy of Algerian descent in Nanterre, a Paris suburb, sparked widespread protests across the French capital, with protesters demanding justice and an end to police brutality.
As riots ravaged the nation, over 400 people were arrested on Thursday, and a bank in Nanterre was set on fire. Over 40,000 police officers were deployed, and public transportation was strained.
All of this turmoil had virtually no negative impact on the performance of French companies in the stock market. 
<h2 class="wp-block-heading">Chart: French CAC 40 Index Rises For The 5th Straight Day, Eyes Prior All-Time Highs Set in April</h2>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="700" src="https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/30141438/CAC40_2023-06-30_20-12-58_76389-1024x700.png" alt="" class="wp-image-60562" srcset="https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/30141438/CAC40_2023-06-30_20-12-58_76389-1024x700.png 1024w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/30141438/CAC40_2023-06-30_20-12-58_76389-300x205.png 300w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/30141438/CAC40_2023-06-30_20-12-58_76389-768x525.png 768w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/30141438/CAC40_2023-06-30_20-12-58_76389-1536x1050.png 1536w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/06/30141438/CAC40_2023-06-30_20-12-58_76389.png 1800w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h2 class="wp-block-heading">Why Are French Stocks Ignoring The Civil Unrest?</h2>
The CAC 40 index, tracked by the iShares MSCI France ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWQ#NYSE">EWQ</a>), is predominantly represented by luxury brands that generate a significant portion of revenues from international markets.
LVMH Moët Hennessy &#8211; Louis Vuitton, Société Européenne (OTCPK: LVMHF), the conglomerate of luxury product brands such as Louis Vuitton, Moët &amp; Chandon, Hennessy, Dior, Dom Pérignon, Givenchy and others, and headed by by the world&#8217;s richest man, Bernard Arnault, accounts for 14% of the CAC 40 Index. 
Also read: <a href="https://www.benzinga.com/news/23/06/32905288/elon-musk-and-bernard-arnault-meet-for-power-lunch-in-paris-what-the-worlds-two-richest-men-discusse" target="_blank" rel="noreferrer noopener">Elon Musk And Bernard Arnault Meet For Power Lunch In Paris: What The World&#8217;s Two Richest Men Discussed</a>
France contributed only 8% of LVMH&#8217;s total revenues in 2022, totaling 6 billion euros ($5.9 billion). Revenues of 21.5 billion euros, or 27%, came from the United States, making it the second-largest market after Asia.
L&#8217;Oréal S.A. (OTCPK: LRLCY), another CAC 40 heavyweight, generates only a small portion of its revenue domestically, with more than three quarters coming from outside Europe.
Thus, the international focus that characterizes French luxury brands has effectively created a protective shield against the impact of domestic political and social upheavals in the country where the brands are headquartered. 
<h2 class="wp-block-heading">LVMH Revenues By Region In 2022</h2>
<figure class="wp-block-table"> 
<table>
<thead>
<tr>
<th>Region</th>
<th>Revenue (in millions of euros) in 2022</th>
<th>Share</th>
</tr>
</thead>
<tbody>
<tr>
<td>United States</td>
<td>21,542</td>
<td>27%</td>
</tr>
<tr>
<td>Asia ex-Japan</td>
<td>23,785</td>
<td>30%</td>
</tr>
<tr>
<td>Europe ex-France</td>
<td>12,717</td>
<td>16%</td>
</tr>
<tr>
<td>Other markets</td>
<td>9,632</td>
<td>12%</td>
</tr>
<tr>
<td>Japan</td>
<td>5,436</td>
<td>7%</td>
</tr>
<tr>
<td>France</td>
<td>6,071</td>
<td>8%</td>
</tr>
<tr>
<td>Total</td>
<td>79,184</td>
<td>100%</td>
</tr>
</tbody>
</table>
</figure>
Read now: <a href="https://www.benzinga.com/news/23/05/32610787/heres-why-the-worlds-richest-man-has-ditched-his-plans-to-build-a-luxury-hotel-in-beverly-hills">Here&#8217;s Why The World&#8217;s Richest Man Has Ditched His Plans To Build A Luxury Hotel In Beverly Hills</a>
French police at a May Day protest earlier in 2023. Photo via Shutterstock.

French Stock Market Defies Chaos With 5-Day Winning Streak Amid Nationwide Riots

DA Davidson&nbsp;analyst Linda Bolton Weiser reiterated a Buy rating on the shares of&nbsp;E.L.F. Beauty, Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/elf#NYSE">ELF</a>),&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/quote/ELF/analyst-ratings" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">raising the price target to $124 from $121</a>.
The analyst applauded ELF&#39;s momentum and health on social media, where the company has increased its Facebook and Instagram followers by 12%.&nbsp;
ELF moved up by one spot in DA Davidson&#39;s last mass beauty social media ranking, where it was the ninth fastest-growing big brand in the survey, with followers +12%.
Also Read:<a class="editor-rtfLink" href="https://www.benzinga.com/analyst-ratings/analyst-color/23/04/31897010/elf-beautys-growth-prospects-of-gaining-more-shelf-space-at-walmart-target-impress-" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">&nbsp;Elf Beauty&#39;s Growth Prospects Of Gaining More Shelf Space At Walmart, Target Impress This Analyst</a>
ELF&#39;s close competitor,&nbsp;L&#39;Oreal Co&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/lrlcy#OTC">LRLCY</a>) (OR-Paris) NYX, failed to grow its followers, and dropped one spot to #3 in the overall ranking, the analyst notes.
However, the analyst cautioned as the company depends on a limited number of retailers for a large portion of its net sales.
The analyst adds that the company is also subject to international economic uncertainties, especially in the U.K. and China.
Price Action:&nbsp;ELF shares are trading lower by 2.49% to $104.33&nbsp;on the last check Wednesday.

E.L.F. Beauty's Rising Social Media Influence Boosts Prospects Despite Economic Uncertainties, Analyst Says

Negative&nbsp;news flows&nbsp;are trickling out of Europe ahead of <a href="https://www.benzinga.com/premarket/" target="_blank">Wall Street&#39;s opening bell on Wednesday.</a>
All European stock indices traded deeply in the red, as investors panicked after a fresh acceleration of inflation in the U.K. and a deadlock in U.S. debt limit discussions.
What Happened: U.K. inflation came in at 8.7% annually in April. That&#39;s down from 10.1% in March, but well above the 8.2% expected.
Inflation accelerated 1.2% on the month, more than the 0.8% expected.
The U.K. core inflation rate, which excludes food and energy and provides a more accurate picture of the root causes of inflation, increased by a more alarming 6.8% yearly &mdash; much above the 6.2% forecast and the highest level since March 1992.
Core inflation soared by 1.3% on a monthly basis, far more than the predicted 0.7%.
Traders revised upward their estimates for rate increases from the Bank of England and now fully factor in an additional 100 basis points of hikes&nbsp;in 2023, with rates predicted to peak at 5.5%.
On Tuesday, European Central Bank speakers delivered hawkish comments, with Governor Christine Lagarde stating that &quot;rates are to stay restrictive for as long as necessary.&quot;
In Germany, the Ifo Business Climate indicator for May, dropped from 93.4&nbsp;to 91.7,&nbsp;falling short of forecasts of 93.0. This is the first monthly decrease in Germany&#39;s business conditions since October, as the outlook worsened due to recent hikes in interest rates and persistently high inflation.&nbsp;
Elsewhere, stocks in China, tracked by the Shangai Shenzen CSI 300 index,&nbsp;pulled back to levels unseen since mid-December 2022,&nbsp;erasing all gains made in the year.&nbsp;
<h3>Chart of The Day</h3>
U.K. core inflation climbs to 30-year highs, but Bank of England rates remain well behind.
<img alt="" src="https://www.benzinga.com/files/u1363475/gbcir_2023-05-24_12-05-43_4e9bf.png" style="height:500px; width:100%" />
<h3>European Stock&nbsp;Reactions</h3>
<ul>
<li>All major averages fell more than 1% during the day, with the Euro Stoxx 50 index down 1.2%.</li>
<li>The SPDR DJ Euro STOXX 50 Etf (ARCA: FEZ), which tracks the index of the 50 largest capitalized European firms, is down 0.8% in the pre-market.</li>
<li>LVMH Moet Hennessy Louis Vuitton (OTC: <a class="ticker" href="https://www.benzinga.com/stock/lvmhf#OTC">LVMHF</a>), the biggest European company by market cap, fell 1.8%, after plunging 5.5% on Tuesday.</li>
<li>L&#39;Oreal SA (OTC: <a class="ticker" href="https://www.benzinga.com/stock/lrlcy#OTC">LRLCY</a>) dropped 1.9%. Banks were also weaker across the board.</li>
<li>Both&nbsp;Allianz SE (OTC: <a class="ticker" href="https://www.benzinga.com/stock/alizf#OTC">ALIZF</a>) and Banco Santander, S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/san#NYSE">SAN</a>)&nbsp;slipped 2.4%</li>
<li>BNP Paribas (OTC: <a class="ticker" href="https://www.benzinga.com/stock/bnpqf#OTC">BNPQF</a>)&nbsp;declined 1.8%.</li>
<li>The carmaker Volkswagen AG (OTC: <a class="ticker" href="https://www.benzinga.com/stock/vlkaf#OTC">VLKAF</a>) fell 2.2%.</li>
</ul>
Stock Heatmap for the Euro Stoxx 50 Index On May 24 08:30 AM ET &ndash; Chart: Tradingview
<img alt="" src="https://www.benzinga.com/files/u1363475/tradingview-stock-market-heatmap-2023-05-24_12.30.16_32e7c.png" style="height:500px; width:100%" />
Next:&nbsp;<a href="https://www.benzinga.com/news/earnings/23/05/32546830/stock-futures-signal-weak-open-ahead-of-fomc-minutes-yellen-speech-analyst-sees-2-factors-providing" target="_blank">Stock Futures Signal Weak Open Ahead Of FOMC Minutes, Yellen Speech - Analyst Sees 2 Factors Providing &#39;Spark To Lift&#39; Markets</a>
<ul>
</ul>

Penny Stocks

New ETFs

Futures

Pre-Market Outlook

Allianz Ag Muenchen Namen-Akt Vinkuliert Shares

ALIZF

BNPQF

VLKAF

European Stocks Slip As UK Inflation Accelerates, Central Bankers Remain Hawkish

Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/government/23/04/31656294/finland-joins-nato-doubling-border-length-russia-issues-warning" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Finland Joins NATO Doubling Border Length, Russia Issues Warning</a>
<ul>
<li>The Finland foreign minister signed the accession document, and Finland has become the 31st member of the North Atlantic Treaty Organization (NATO) security alliance.</li>
<li>The move is a strategic and political blow to Russia&#39;s Vladimir Putin, who has repeatedly complained about NATO&#39;s expansion toward Russia and partly used that as a justification for invading Ukraine.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/cryptocurrency/23/04/31653118/dogecoin-fans-ask-elon-musk-to-take-it-to-the-moon-as-official-twitter-currency" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Dogecoin Fans Ask Elon Musk To Take It To The Moon As Official Twitter Currency</a>
<ul>
<li>The cryptoverse has a new request for Twitter Chief&nbsp;Elon Musk&nbsp;after his recent logo tweak: make&nbsp;Dogecoin&nbsp;(DOGE/USD) the official currency of the microblogging platform.</li>
<li>One such call was made by&nbsp;David Gokhshtein, who runs crypto media firm Gokhshtein Media asked Musk on Twitter if he would consider making DOGE the platform&#39;s official currency.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/04/31648397/richard-bransons-space-dreams-crash-as-virgin-orbit-files-for-bankruptcy" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Richard Branson&#39;s Space Dreams Crash As Virgin Orbit Files For Bankruptcy</a>
<ul>
<li>Richard Branson&#39;s&nbsp;Virgin Orbit Holdings Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vorb#NASDAQ">VORB</a>) has filed for Chapter 11 bankruptcy, a day after flagging substantial doubt about its ability to continue as a going concern for at least 12 months.</li>
<li>Virgin Orbit lodged the Chapter 11 bankruptcy filing in the U.S. Bankruptcy Court for the District of Delaware on Tuesday.</li>
<li>The company listed assets and liabilities between $100 million and $500 million, per the filing.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/04/31648662/meet-the-astronauts-who-will-fly-to-the-moon-50-years-after-the-last-human-landings" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Meet The Astronauts Who Will Fly To The Moon 50 Years After The Last Human Landings</a>
<ul>
<li>NASA&nbsp;and the&nbsp;Canadian Space Agency&nbsp;named the four astronauts who will be part of their&nbsp;Artemis II&nbsp;mission on Monday.</li>
<li>NASA astronauts&nbsp;Reid Wiseman,&nbsp;Victor Glover, and&nbsp;Christina Hammock Koch, and CSA astronaut&nbsp;Jeremy Hansen&nbsp;shall be part of the 10-day Artemis II mission around the Moon, NASA said in a statement.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/asia/23/04/31648141/nio-rejects-elon-musks-ruthless-moves-says-tesla-cant-fix-ev-prices-in-china" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Nio Rejects Elon Musk&#39;s Ruthless Moves: Says Tesla Can&#39;t Fix EV Prices In China</a>
<ul>
<li>Nio Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nio#NYSE">NIO</a>) CEO&nbsp;William Li&nbsp;has said that the Chinese EV maker will not take part in pricing wars while adding that&nbsp;Elon Musk&#39;s&nbsp;Tesla Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) cannot decide EV prices in China.</li>
<li>Li, at a recent industry conference, said Nio would not be a part of EV price wars as its gross margins are too low.</li>
<li>Blind price cutting will create ruthless competition in the country, he added while speaking at an industry conference.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/04/31647931/ron-desantis-draws-disney-ceos-ire-over-dont-say-gay-law-retaliation" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Ron DeSantis Draws Disney CEO&#39;s Ire Over &#39;Don&#39;t Say Gay&#39; Law Retaliation</a>
<ul>
<li>Walt Disney Co&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dis#NYSE">DIS</a>) CEO&nbsp;Bob Iger&nbsp;hit back at Florida&#39;s Republican Governor&nbsp;Ron DeSantis&nbsp;on Monday for apparently retaliating against the entertainment behemoth.</li>
<li>Iger said at the company&#39;s annual shareholder&#39;s meeting that though Disney may not have handled its position on Florida&#39;s so-called &quot;Don&#39;t Say Gay&quot; bill well, corporations have a right to air their opinions, reported Reuters.</li>
<li>&quot;To seek to punish a company for the exercise of a constitutional right, that just seems really wrong to me,&quot; said Iger.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/04/31650534/lockheed-martin-f-35-joint-program-office-ink-147m-contract-to-support-uks-f-35-fleet" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Lockheed Martin, F-35 Joint Program Office Ink &pound;147M Contract To Support UK&#39;s F-35 Fleet</a>
<ul>
<li>Lockheed Martin Corp&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lmt#NYSE">LMT</a>) and the F-35 Joint Program Office (JPO) signed the Lightning Air System National Capability Enterprise (LANCE) 23-27 contract to support the United Kingdom&#39;s F-35 fleet.&nbsp;</li>
<li>The contract is valued at ~&pound;147 million and will ensure and enhance the UK F-35 fleet&#39;s availability and capability to conduct combat missions worldwide.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/23/04/31649539/natura-divests-aesop-to-lor-al-for-2-5b-plans-to-focus-on-strategic-priorities" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Natura Divests Aesop To L&#39;Or&eacute;al For $2.5B; Plans To Focus On Strategic Priorities</a>
<ul>
<li>French skincare giant&nbsp;L&#39;Oreal Co&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/lrlcy#OTC">LRLCY</a>) has agreed to acquire Aesop, the Australian luxury beauty brand, from&nbsp;Natura &amp;Co Holding S.A.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ntco#NYSE">NTCO</a>).</li>
<li>The proposed transaction values Aesop at an enterprise value of $2.525 billion.</li>
<li>Aēsop, created in 1987, currently operates around 400 points of sale across the Americas, Europe, Australia, New Zealand, and Asia.</li>
<li>The brand, which became part of Natura in 2012, registered $537 million in sales in FY22.</li>
</ul>
&nbsp;
TechCrunch
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/04/31649060/spotify-pulls-down-curtains-on-spotify-live-highlights-struggle-with-live-audio" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Spotify Pulls Down Curtains On Spotify Live, Highlights Struggle With Live Audio</a>
<ul>
<li>Spotify Technology S.A.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spot#NYSE">SPOT</a>) is shutting down its live-audio app Spotify Live, a company spokesperson confirmed on Monday.&nbsp;</li>
<li>The company says it will continue to explore live features on its central platform.</li>
<li>After a period of experimentation, Spotify decided to sunset the Spotify Live app.</li>
<li>Based on its learnings, it no longer makes sense as a standalone app, highlighting the company&#39;s struggle with live audio.&nbsp;</li>
</ul>
&nbsp;
Wall Street Journal
<a class="editor-rtfLink" href="https://www.benzinga.com/government/23/04/31649273/us-doj-slaps-anticompetitive-charges-against-activision-blizzard-related-to-esports-leagues" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">US DOJ Slaps Anticompetitive Charges Against Activision Blizzard Related To Esports Leagues</a>
<ul>
<li>The Justice Department prosecuted&nbsp;Activision Blizzard, Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/atvi#NASDAQ">ATVI</a>) for restricting competition for players in Activision&#39;s&nbsp;Overwatch&nbsp;and&nbsp;Call of Duty&nbsp;professional esports leagues and suppressing the wages of esports players in these leagues.</li>
<li>The complaint alleges that Activision&#39;s two esports leagues and the independently-owned teams in each league implemented a so-called Competitive Balance Tax that penalized teams in the&nbsp;Overwatch&nbsp;and&nbsp;Call of Duty&nbsp;Leagues, respectively, if a team&#39;s player compensation exceeded a threshold set by Activision.</li>
</ul>
&nbsp;
Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/news/large-cap/23/04/31651462/us-court-favors-bayer-in-lawsuit-against-merck-on-talc-liabilities" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">US Court Favors Bayer In Lawsuit Against Merck On Talc Liabilities</a>
<ul>
<li>Merck &amp; Co&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mrk#NYSE">MRK</a>) remains on the hook for asbestos-related liabilities involving talc product lines it sold to&nbsp;Bayer AG&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/bayry#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BAYRY</a>) as part of a $14.2 billion deal concluded in 2014.</li>
<li>According to the deal, Bayer&nbsp;<a class="editor-rtfLink" href="https://www.merck.com/news/merck-announces-sale-of-consumer-care-business-to-bayer-ag-for-14-2-billion/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">acquired</a>&nbsp;Merck&#39;s existing OTC business.</li>
<li>Vice Chancellor Nathan Cook of the Delaware Chancery Court said the purchase agreement &quot;clearly and unambiguously&quot; left Merck liable for claims related to products sold before the transaction closed.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/government/23/04/31652335/despite-tensions-german-insurers-renew-insurance-cover-for-russia-owned-nord-stream-pipeline" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Despite Tensions, German Insurers Renew Insurance Cover For Russia-Owned Nord Stream Pipeline</a>
<ul>
<li>Allianz SE&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/alizy#OTC">ALIZY</a>) and&nbsp;Munich Re&nbsp;have renewed insurance coverage for the damaged Russia-controlled Nord Stream 1 gas pipeline, contrasting Germany&#39;s public stance of cutting ties with Moscow.</li>
<li>Russia has a 51% stake in Nord Stream 1 through a subsidiary of the state-owned energy group Gazprom.</li>
<li>Russia&#39;s foreign ministry has reportedly accused European countries of trying to hide the results of their investigations of the Nord Stream gas pipeline blasts that happened in September last year.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/23/04/31654558/after-denying-earlier-pfizer-merck-marginally-cut-prices-for-covid-19-treatments-in-china" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">After Denying, Pfizer &amp; Merck Marginally Cut Prices For Their COVID-19 Treatments In China</a>
<ul>
<li>Pfizer Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pfe#NYSE">PFE</a>) and&nbsp;Merck &amp; Co Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mrk#NYSE">MRK</a>) have reportedly lowered the prices of their respective COVID-19 treatments in China.</li>
<li>Pfizer cut the price of Paxlovid by about 100 yuan ($14.54) to 1,790 per box of 30 pills, while Merck marginally lowered the price of a 40-capsule bottle of its oral treatment molnupiravir by 74 yuan to 1,426 yuan.</li>
</ul>
&nbsp;
Bloomberg
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/04/31649111/walmarts-job-cuts-to-affect-2-000-positions-in-its-e-commerce-warehouses-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Walmart&#39;s Job Cuts To Affect 2,000 Positions In Its E-Commerce Warehouses</a>
<ul>
<li>Walmart Inc&#39;s&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wmt#NYSE">WMT</a>) workforce reduction at five e-commerce fulfillment centers in the U.S. reportedly will affect more than 2,000 positions.</li>
<li>The affected employees, though, will be given assistance to find other roles at the company.</li>
<li>The job cuts include more than 1,000 positions at a warehouse in Fort Worth, Texas, about 600 jobs at a Pennsylvania fulfillment center, 400 in Florida, and 200 in New Jersey.</li>
</ul>
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