Paycom (PAYC) & Estee Lauder (EL) Stocks Struggle After Soft Guidance

Paycom (PAYC) tumbled after cutting revenue guidance. Its 3Q adjusted EPS came in at $1.77 versus an estimated $1.62 and revenue came in at $406.30M versus an estimated $411.04M. PAYC’s CFO noted that guidance assumes “impact from the strategic revenue decisions we are and will be making.” Jenny Horne discusses this along with Estee Lauder (EL) which is trading lower after 1Q earnings and soft guidance. EL cites slow growth in China for the guidance cut. Tune in to find out more about the stock market today.