Last Friday, six stocks made significant moves in a relief rally that may prove short-lived. The S&P 500 (IVV) indicated a multiple top at 6,100 to close at 5,628. This lifted three notable stocks.
Ulta Beauty (ULTA) rose by 13.68% to close at $357.48. The make-up supplier posted GAAP earnings of $8.46 a share. Revenue fell by 2% Y/Y to $3.48 billion. The stock buyback program helped to offset the weak earnings. However, operating margins continue to decline.
Microstrategy (MSTR) trades like a holding company for bitcoin (BTC-USD). Shares added 13% on March 14. The stock continues to trade in a downtrend. BTC closed at around $84,450 on the weekend, up by 7.23% in the last week.
Crown Castle (CCI) gained 10.4% to close at $103.22. The firm posted fund flows and revenue that beat expectations. In Q4, it signed an agreement to sell its small cells and fiber solutions for $8.5 billion.
Stocks slumped last Friday, including Abbott (ABT). Shares peaked above $140 weeks early and closed at $126.71. A judge ordered a new trial regarding the baby formula and alleged intestinal disease case.
Dollar Tree (DLTR) trended lower after the firm warned that its customers were facing a worsening financial condition. The store sells inexpensive goods, so this warning should concern its shareholders.
Bristol-Myers (BMY) closed below $60 last week. The European Commission approved the expanded use of Breyanzo for treating adult patients with relapsed or refractory follicular lymphoma. These are for patients who have two or more lines of systemic therapy.
