Market Overview

Mid-Morning Market Update: Markets Mostly Higher; Ulta Salon Posts Upbeat Results

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Following the market opening Friday, the Dow traded up 0.33 percent to 15,350.46, while the NASDAQ fell 0.08 percent to 3,713.06. The S&P was also up, rising 0.13 percent to 1,685.63.

Top Headline
Yesterday, Ulta Salon, Cosmetics & Fragrance (NASDAQ: ULTA) reported upbeat results.

Ulta's quarterly earnings came in at $0.70 per share on revenue of $601 million, versus a year-ago profit of $0.54 per share on sales of $481.7 million.

Equities Trading UP
Ulta Salon, Cosmetics & Fragrance (NASDAQ: ULTA) shot up, gaining 13.28 percent to $113.46, after the company reported upbeat results.

United Natural Foods (NASDAQ: UNFI) was also up 10.56 percent to $66.30, after the company reported a 28% rise in its fiscal fourth quarter.

Safeway (NYSE: SWY) got a boost, shooting up 4.81 percent to $27.87 after Credit Suisse upgraded the stock to Outperform.

Equities Trading DOWN
Under Armour (NYSE: UA) was down, falling 1.93 percent to $79.04, after Credit Suisse downgraded the stock to Neutral.

Summit Hotel Properties (NYSE: INN) shares tumbled 6.81 percent to $9.10 after the company priced 15 million share offering at $9.20 per share.

Stratasys (NASDAQ: SSYS) was down 4.06 percent to $93.82 after the company priced 4.5 million shares of ordinary shares at $93.00 per share.

Commodities
In commodity news, oil traded down 1.02 percent to $107.49, while gold dropped 1.33 percent to $1,312.90.

Silver traded down 1.49 percent Friday to $21.82, while copper fell 0.48 percent to $3.19.

Eurozone
European shares were mostly flat on Friday. The Spanish Ibex Index fell 0.01 percent and the Italian FTSE MIB Index dropped 0.04 percent. Meanwhile, the German DAX gained 0.07 percent and the French CAC 40 rose 0.01 percent while U.K. shares declined 0.20 percent.

Economics
US wholesale prices rose 0.3% in August, while core wholesale prices came in unchanged in the month. However, economists were expecting a 0.2% rise.

US retail sales climbed 0.2% in August, less than analysts expected.

The University of Michigan Consumer Confidence dropped to a preliminary reading of 76.8 in September, versus a final August reading of 82.1.

US business inventories rose 0.40% in July, versus economist' expectations for a 0.20% rise.

Posted-In: Earnings News Guidance Eurozone Commodities Forex Global Econ #s

 

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