Karishma Vanjani

Ulta Beauty stock jumped after management raised its forecast for full-year earnings, but doubt about the long-term story has kept a lid on the valuation. On Thursday after the market closed, Ulta reported sales of $2.53 billion and $5.14 in earnings per share for its third fiscal quarter, the three months that ended Nov. 2. The consensus calls among analysts tracked by FactSet was for $4.53 in earnings per share and $2.5 billion in sales.

Ulta Beauty stock jumped after management raised its forecast for full-year earnings, but doubt about the long-term story has kept a lid on the valuation.

An ETF tracking consumer goods stocks reversed course after a report broke that Mondelez International is eyeing a potential takeover of Hershey. The Consumer Staples Select Sector SPDR ETF is now up 0.2% after being down as much as 0.4% shortly after the open. The U-turn comes after a Bloomberg report, citing people familiar with the matter, said Cadbury maker Mondelez has made a “preliminary approach about a possible combination” with the chocolate maker.

Stocks ended the day near session lows on Monday, with the major indexes slightly scaling back their massive gains for this year ahead of 2024's final CPI report and next week's Fed decision. The Dow lost 241 points, or 0.5%, while the S&P 500 and the Nasdaq Composite both fell 0.6%. The S&P 500 is up 26.9% for this year, shaving some of its annual gain from its record close on Friday, when it was up 27.68% for the year.

Krispy Kreme shares fell early Wednesday after the company revealed a cybersecurity breach had disrupted operations. On Nov. 29, the doughnut and coffee seller was notified about unauthorized activity on a portion of its systems, a regulatory 8-K filing says. Since then, cybersecurity experts have been working to remedy the incident, but Krispy Kreme is experiencing “certain operational disruptions, including with online ordering in parts of the U.S.”

Shares of Dallas-based Brinker are up 201% this year, as of Wednesday’s close, the best performance for the stock since first going public 40 years ago. The restaurant commands a market value of $5.8 billion, over three times higher than at the start of the year. The love for the stock on Wall Street is driven by Chili’s Grill & Bar, a casual dining chain that makes up about 90% of Brinker’s overall revenue.

In This Article MU Weak earnings and a poor forecast could be in the cards when Micron Technology reports first-quarter

Weak earnings and a poor forecast could be in the cards when Micron Technology reports first-quarter results on Wednesday, according to Citi analyst Christopher Danely. After the market closes on Wednesday, Micron will share results for the fiscal quarter that ended in November. In a note on Monday, Citi’s Danely estimated Micron’s earnings to fall short of the consensus, coming in at $1.53 per share, while revenue could match projections.

The company, best known as the owner of Olive Garden, reported a better performance at its casual restaurants and tougher times at more costly outlets.

In This Article AAPL Apple biggest supporter is predicting a powerful end to 2024, driven by robust iPhone sales during