Shareholders of Ulta Salon, Cosmetics & Fragrance (ULTA) must be glowing in the beauty of the company's recent performance. Ulta shares jumped nearly 10% during midday trading Thursday after it raised its third-quarter and full-year outlook. The company now expects third-quarter earnings in a range of $1.35 and $1.38 a share, compared to its prior outlook of $1.25 to $1.30 a share. Same-store sales for the period are also expected to increase between 14% and 15%, up from previous expectations of 11% to 13% growth. For fiscal 2016, Ulta is anticipating earnings per share growth in the mid-20s, and increased its same-store sales forecast to between 12% and 14%. TheStreet's Jim Cramer said on CNBC's "Mad Dash" segment that Ulta's original guidance simply wasn't high enough, concluding that it could go even higher.
Meanwhile, data from the U.S. Energy Information Administration (EIA) had shares of Chesapeake Energy (CHK) rebounding, up by more than 2% during midday trading. Natural gas stocks increased by 79 billion cubic feet for the week ending Oct. 7. Going ahead, the EIA expects marketed natural gas production to average 77.5 billion cubic feet per day, "a decreased of 1.6% from the 2015 level, which would be the first annual decline since 2005."
But word from Goldman Sachs to "go short copper" sent Freeport-McMoRan (FCX) shares tumbling, down 6%. The analyst team with Goldman wrote in a research note today that over the next three to six months, "we believe that copper will continue to underperform zinc, with copper about to hit a wall of supply, while the zinc concentrate market continues to tighten," according to CNBC.
Shares of Vale (VALE) were also taking a hit during the trading session, down by more than 5%, after Chinese trade data "dimmed the outlook for Brazil's exporters," according to Bloomberg. China's customs administration said imports unexpectedly declined in September and there is concern that China, which is Brazil's biggest trading partner, will allow the yuan to weaken further as exports slump and growth falters, Bloomberg reported.
CHK, FCX and VALE are all members of Real Money's "Stressed Out" index.