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Estee Lauder Companies reported fiscal fourth-quarter earnings that fell to $93.5 million, or 25 cents a share, from $153.0 million, or 40 cents a share, in the same period a year ago. Excluding non-recurring items, such as restructuring and other charges, the beauty products company reported adjusted earnings per share came in at 43 cents, beating the FactSet consensus of 40 cents. Revenue rose to $2.65 billion from $2.52 billion, just shy of the FactSet consensus of $2.66 billion, with all product categories, except fragrance, reporting increases. “We capitalized on shifting consumer preferences by leveraging our strength in makeup and positioning our company to win in luxury fragrances,” said Chief Executive Fabrizio Freda. “Importantly, we achieved these results against a backdrop of social and political instability, currency volatility and economic challenges.” The stock, which was still inactive in premarket trade, has climbed 8% year to date, while the S&P 500 has gained 7%.

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U.S. Olympic swimmer James Feigen has reached an agreement with officials in Rio de Janeiro to make an $11,000 donation to a Brazilian charity in an effort to resolve a dispute over a claim of robbery, according to media reports Friday. The agreement was announced early on Friday by his lawyer in the city, Breno Melaragno Costa, ABC News reported. That was on the heels of a four-hour meeting between the swimmer and officials from the prosecutors office on Thursday. A Brazilian charity called Reaction Institute will be the recipient of the money, which is equivalent to 35,000 Brazilian reals. Brazilian authorities have accused Feigen and three other U.S. swimmers — Ryan Lochte, Gunnar Bentz and Jack Conger — of making up a story about a robbery to cover up their acts of drunken vandalism. Feigen is expected to have his passport returned Friday and then will be free to leave the country, according to his lawyer. The U.S. Olympic Committee on Thursday apologized for the actions of the swimmers, all of whom have returned to the U.S. except for Feigen.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

U.S. Olympic swimmer James Feigen has reached an agreement with officials in Rio de Janeiro to make an $11,000 donation to a Brazilian charity in an effort to resolve a dispute over a claim of robbery, according to media reports Friday. The agreement was announced early on Friday by his lawyer in the city, Breno Melaragno Costa, ABC News reported. That was on the heels of a four-hour meeting between the swimmer and officials from the prosecutors office on Thursday. A Brazilian charity called Reaction Institute will be the recipient of the money, which is equivalent to 35,000 Brazilian reals. Brazilian authorities have accused Feigen and three other U.S. swimmers — Ryan Lochte, Gunnar Bentz and Jack Conger — of making up a story about a robbery to cover up their acts of drunken vandalism. Feigen is expected to have his passport returned Friday and then will be free to leave the country, according to his lawyer. The U.S. Olympic Committee on Thursday apologized for the actions of the swimmers, all of whom have returned to the U.S. except for Feigen.

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A judge on Thursday blocked an $84 million settlement agreement between Uber Technologies Inc. and its drivers. U.S. District Judge Judge Edward Chen found the settlement amount inadequate, but not necessarily because of the core agreement that would net most drivers $24 or less. Instead, the judge found that a part of the lawsuit that, under California labor law, allows workers to recover fines that could be assessed by the state, settled for too little. That part of the settlement was for $1 million, while estimates say that Uber could have been forced to pay as much as $1 billion if it lost at trial. “Here, the Court cannot find that the PAGA settlement is fair and adequate in view of the purposes and policies of the statute,” Chen wrote in his ruling. “Plaintiffs propose settling PAGA for only 0.1% of the potential verdict value.” Uber was unhappy with the decision, saying in a statement, “The settlement, mutually agreed by both sides, was fair and reasonable. We’re disappointed in this decision and are taking a look at our options.”

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Caterpillar Inc. said it plans to lay off 155 workers as its seeks to restructure certain mining products. The company said it may possibly divest its room and pillar products business, which serves underground miners, and plans to stop making track drills. The layoffs are expected to hit workers in Houston and Pennsylvania, the company said. Caterpillar has more than 100,000 employees worldwide. Shares were down fractionally at $83.34 after hours.

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Privately held clothing retailer Eddie Bauer said late Thursday that malware has affected sale terminals at its stores, and customers’ credit cards used at stores between Jan. 2 and July 17 may have been compromised. Not all credit-card transactions at that span of time were affected, and card payments at eddiebauer.com were not affected, the company said in a letter from Chief Executive Mike Egeck. The incident has been “fully identified and contained,” Eddie Bauer said. The company is offering identity protection services to customers who bought merchandise within the dates the malware is thought to be active.

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Emerson Electric Co. has agreed to buy the valves and controls business of U.K.-based Pentair PLC for $3.15 billion, the companies said late Thursday. The deal is expected to close in late 2016 or early next year, the companies said in separate statements. The division, based in Switzerland, has about 7,500 employees around the world, and serves process industries such as petrochemicals and mining. Emerson shares were flat in late trading after ending the day down 0.4%; American depositary shares of Pentair were also flat after a 0.1% loss in the regular session.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News