Estée Lauder shares jump 10% after ending merger talks with Puig, focusing on independent growth.

Estée Lauder's shares rose about 10% after the company confirmed it ended merger discussions with Puig, removing uncertainty around a potential deal. The company will continue to operate independently, focusing on its "Beauty Reimagined" strategy and ongoing strategic initiatives to improve agility, innovation, and execution. Estée Lauder remains confident in its brand portfolio and plans to pursue growth through acquisitions and divestitures. Meanwhile, Puig's shares fell about 14% following the announcement.