MARKET MOVERS
Estee Lauder Cos., the maker of Clinique and Bobbi Brown cosmetics, gained on news first-quarter profit topped analysts’ estimates after it trimmed expenses. Excluding restructuring costs, profit was 85 cents a share. Analysts predicted profit of 34 cents a share. CEO Fabrizio Freda aims to cut costs by $450 million to $550 million over the next four years by reducing headcount, the number of products it sells, and the cost of goods.
© Copyright 2009 Globe Newspaper Company.
