Estée Lauder shares plunge 20% as cosmetics giant yanks forecast on weak sales

Estée Lauder shares plunged more than 20% on Thursday after the cosmetics giant withdrew its full-year earnings forecast and revealed weak demand for its luxury fragrance and cosmetic products. Shares of the 78-year-old company, founded and controlled by New York’s Lauder family, on Thursday were recently off 22%...