Ulta Beauty Surges on Strong Earnings; Netflix-Warner Bros. Deal Reshapes Streaming Landscape
Ulta Beauty shares soared nearly 13%—the top performer in the S&P 500—after exceeding earnings expectations and raising full-year guidance. The cosmetics retailer benefits from resilient demand despite broader economic headwinds, with transaction volumes and average spending per visit both climbing.
Netflix's acquisition of Warner Bros. Discovery's studio and streaming assets sent shockwaves through the sector. Warner Bros. Discovery stock gained, while Netflix dipped and Paramount Skydance plummeted. The deal marks a seismic shift in the streaming wars, consolidating content libraries amid intensifying competition.
Major indices edged higher as cooler-than-expected inflation data bolstered expectations for imminent Federal Reserve rate cuts. The S&P 500 and Dow each rose 0.2%, hovering NEAR record levels, while the Nasdaq advanced 0.3%.
