Market recap: Ulta Beauty tumbles on disappointing outlook

December 9, 2018 at 4:32AM
FILE- This Sept. 11, 2018, file photo shows a marijuana plant in San Luis Obispo, Calif. Curiosity from one the world's largest tobacco companies about the marijuana business sent shares of a Canadian cannabis company higher at the opening bell Tuesday, Dec. 4. Cronos Group confirmed talks late Monday with Marlboro maker Altria about a possible investment. (AP Photo/Richard Vogel, File)
Altria’s stock fell after it announced a $2.4 billion investment in Cronos, a Canadian marijuana firm. (The Minnesota Star Tribune)

Not so pretty: Ulta Beauty slid 13 percent to $254.47 Friday after the cosmetics retailer's latest quarterly report card exceeded analysts' expectations, but its earnings outlook disappointed traders.

Smoke this: Tobacco company Altria, which makes Marlboro cigarettes, fell 0.4 percent to $54.18 Friday after announcing a $2.4 billion investment in Cronos Group, a Canadian medical and recreational marijuana company.

Bruised by sell-off: Technology companies, banks and health care stocks took some of the heaviest losses in the latest wave of selling Thursday. Oracle slid 4.3 percent on the day, to $46.64, closing the week at $46. Citigroup, which fell 4.8 percent to $59.25 Thursday, wrapped up the week at $58.35. Centene closed Friday at $133.22, after sinking 7.3 percent to $131.80 Thursday.

Solid quarter: Broadcom climbed 0.6 percent to $228.56 Friday after the technology company reported fiscal fourth-quarter results that topped Wall Street's forecasts.

Deal bounce: GlaxoSmithKline PLC slumped 7.8 percent to $38.61 Monday after the drugmaker agreed to acquire Tesaro, which makes the ovarian cancer treatment Zejula. The stock closed Friday at $37.30. Shares in Tesaro, which soared 58.5 percent to $73.50 on the news, closed the week at $73.95.

Good bet: Wynn Resorts gained 9.5 percent to $119.79 Monday after the gambling revenue in Macau rose last month at a higher rate than analysts expected. Shares closed the week at $104.99.

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Leila Navidi

The announcement is part of a $1.3 billion payout to employees of the Atlanta-based carrier.

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