Diamonds and Dogs
Energy is back. The energy sector (XLE) is up 4% today, up 9.7% since the end of November, extending its 10-week rally to 32.3% versus a 9.7% quarter-to-date gain for the S&P 500. Not bad.
Profit-taking in Ulta Beauty (ULTA). The cosmetics and personal care company's stock is lower by 2% following third-quarter earnings. Earnings beat as sales fell 7% to $1.55 billion. The company expects anticipate comparable store sales to decline in the range of 12% to 14% for the fourth quarter. Basically, with the pandemic, Ulta Beauty doesn't know what to expect.
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