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Estee Lauder and Puig End Merger, Deckers Rises, Intuit PlungesL | Stock Movers
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May 21, 2026
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May 21, 2026
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7:58
4:14Now PlayingToday's biggest winners and losers in the stock market, a look at the notable movers for the week:
On this episode of Stock Movers:
- Estee Lauder (EL) and Spanish company Puig Brands SA have walked away from a multibillion-dollar deal that would have created one of the world’s largest beauty businesses. The two companies had confirmed talks of a potential business combination in March without disclosing any terms. On Thursday, they each issued statements saying those discussions had ended, but neither elaborated on the reason. Combined, the companies would have had a market cap of nearly $39 billion based on closing prices Thursday, with annual sales of around $20 billion in 2025.
- Deckers (DECK) Outdoor shares are up 4.3% in postmarket trading Thursday after the parent company of both Ugg and Hoka reported revenue for the fourth quarter that beat the average analyst estimate. The company also provided net sales guidance for 2027 ahead of consensus.
- Intuit (INTU) suffered its worst stock decline in more than two decades after announcing plans to cut about 17% of its staff and reporting slower TurboTax sales than anticipated. The job reductions, which will affect about 3,000 workers, will trim costs while the financial software company invests in artificial intelligence products. They’re meant to simplify the organization and turn it into a “faster, leaner, more focused company,” Intuit said Wednesday in a statement that included fiscal third-quarter results.
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Estee Lauder and Puig End Merger, Deckers Rises, Intuit PlungesL
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