Summary Box: Estee Lauder 2Q Earnings Jump

THE NEWS: The Estee Lauder Cos. second-quarter net income rose 34 percent on better-than-expected holiday revenue and the weaker dollar, which boosted overseas results. Revenue rose 10 percent to $2.49 billion.

THE CONTEXT: People are spending more on little luxuries for themselves and others, like lipstick and lotions, as the recession fades.

WHAT'S NEXT: CEO Fabrizio Freda said he didn't expect the holiday demand would be completely sustainable over the second half of the year, but the company raised its full-year forecast well above analyst expectations.