Why Cosmetics Company Estee Lauder's (EL) Shares Are Surging Today - Estee Lauder Cos (NYSE:EL)

Estee Lauder Companies Inc EL shares are up Monday premarket following reports that billionaire Nelson Peltz is planning an overhaul of the company, including ousting of the CEO and a sale of the company.
It is unclear whether the activist investor has acquired shares in the cosmetics giant, reported New York Post.
Sources are likely to have revealed that Pelts is considering gathering a shareholder campaign against the CEO, Fabrizio Freda.
"A number of directors and institutional investors think the CEO has lost his touch," the report quoted a source close to the situation. "They are now recruiting shareholder activists."
Estee Lauder reported a Q3 sales decline of 12% Y/Y to $3.75 billion.
Shares plunged following the results as the company's performance was hit by pressures affecting its Asia travel retail business.
Also Read: Nelson Peltz Made Over $150M Profit In His Proxy Battle Against Walt Disney In Three Months
Price Action: EL shares are trading higher by 3.87% at $211.42 premarket on the last check Monday.

Why Cosmetics Company Estee Lauder's Shares Are Surging Today