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Estée Lauder shines, Alphabet spending concerns, Amazon names new board membere

Here are the companies the Yahoo Finance team is watching today.

Estée Lauder is in the spotlight. The beauty products company posted earnings that beat estimates by a $0.20 cents a share while raising its outlook. Revenue at Estée Lauder topped $4 billion thanks to strong global sales for its skin care products.

We are also watching Alphabet. Alphabet reported stronger-than-expected profit yesterday after the bell, but the earnings beat was overshadowed by Google's spending. The stock ended yesterday's session down about 3% following Wall Street's concerns on the company's capital expenditures. Alphabet's total capital expenditures surged nearly 65% in its last quarter to $7 billion.

Amazon has a new member joining its board of directors. The company has named Starbucks executive and former Sams Club CEO Rosalind Brewer to its board. Amazon’s 10-person board now has four female members. This comes as top companies face increasing pressure to diversify their boards.

One Fox executive is calling Netflix's viewership numbers misleading. The chief executive at Fox, John Landgraf, said the ratings information Netflix released is not an accurate representation of the streaming company's success. This comes as traditional studios look to compete with Netflix for talent and content.

It looks like Gannett has rejected an unsolicited takeover bid from Digital First Media. The owner of USA Today and other publications said the $1.4 billion offer undervalues the company and does not represent a credible proposal.The offer was a 23% premium above Gannett's stock price.