Market Overview

Ulta Beauty Attempts To Find A Bottom

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Ulta Beauty Inc (NASDAQ: ULTA) shares are trading lower $20.50 (8 percent) at $213.13 in Friday's session.

After Thursday's close, the company reported Q2 GAAP EPS of $1.83 that does not compare to Street estimates of $1.78. Sales came in slightly higher than expected and the company raised its FY 2017 outlook.

That report isn't good enough in the eyes of Wall Street for the cosmetic retailer that has been under constant selling pressure since peaking in May at $310.00.

After a lower open, Ulta had a brief rally to $216.81 before swooning to $208.25. That marks the lowest level for the stock since May 2015 at $202.28. It rebounded off that low but has yet to make a new high for the session.

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