US indices mostly closed higher yesterday with the exception of the NASDAQ, which fell 0.3%.
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Today, futures are in the green ahead of pivotal consumer spending data set for an 8:30 a.m. release. Yesterday, Fed Chairman Jerome Powell signaled that monetary policy will remain loose for longer than initially anticipated. The news rallied stocks.
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Asian stocks were mostly higher overnight, except for Japan’s Nikkei 225, which Tumbled 1.4% on the day.
Here’s what’s moving the market today.
Ulta Beauty (ULTA)
Ulta beauty beat its Q2 estimates for earnings and posted strong eCommerce sales in last nights earnings report. All of the companies stores are open again and it’s returned all 17,000 of its furloughed associates. eCommerce sales more than tripled in the quarter, and EPS of $0.14 cents crushed analysts estimates of $0.06 per share.
ULTA is the top S&P 500 mover with a 14.9% gains.
he FDA approved Clovis’s FoundationOne (R) Liquid CDx, a liquid biopsy test for solid tumors with multiple companion diagnostics According to a company press release, “FoundationOne Liquid CDx is intended to be used as a companion diagnostic to identify patients who may benefit from treatment with specific FDA-approved targeted therapies, including Rubraca, the first PARP inhibitor approved for the treatment of BRCA1/2-mutant mCRPC..”
CLVS is trading actively and its one of the top NASDAQ stocks.
Nortech Systems (NSYS)
Nortech Systems completed a sale-leaseback deal for its manufacturing facilities in Bemidji and Mankato, Minnesota for a sale price of $6.3 million. The company will use the proceeds from the sale to pay down debt, taxes, and related expenses. Concurrent, with the sale, Nortech entered into a 15-year term lease with multiple renewal options to continue using the facilities.
Nortech is up 62.1% on news of the deal, which provides much-need liquidity for the company.
Just Energy (JE)
This tiny company’s blow-out earnings report is sending share prices to the moon. Just Energy beat Wall Street estimates for both earnings and revenues. Perhaps best of all, the company reaffirmed its base EBITDA guidance range of $130 million to $160 for 2021.
JE is up 19.1% on news of the double-line beat.