Diamonds and Dogs
Ulta Beauty (ULTA) looking pretty following better than expected earnings. The cosmetics and fragrance company easily beat earnings estimates. Revenues rose 24.6% year over year to $1.58 billion. For the full year the company issued in line guidance and says they can achieve comparable sales growth of ~8% to 10% with a 100 net new stores and remodeling 13 locations.
Manning & Napier (MN) moving in the wrong direction. The regional brokerage firm made a new 52 week low after the Board of Directors decided to cut their dividend in half due to a decrease in assets under management and earnings in recent periods that have resulted in a reduction to the Company's profits. The new dividend yield will be more in line with the Company's historical levels and industry peer group. Unfortunately for Manning & Napier, the stock of their peers are trading at new all-time highs, not new 52 week lows.
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