Stocks making the biggest moves midday: Ulta Beauty, Oracle, Slack & more

Market Insider

Scott Mlyn | CNBC

Check out the companies making headlines in midday trading. 

Ulta Beauty — Share of Ulta Beauty rose about 3% around midday, paring gains along with the broad market. The stock surged as much as 15% at its session high after the makeup retailer posted better-than-expected quarterly earnings. Ulta reported fourth-quarter profit of $3.89 per share, 16 cents above estimates, according to Refinitiv. However, its revenue was slightly below consensus.

Slack — Shares of Slack plunged more than 18% after the tech company released weaker-than-expected guidance for the first quarter on Thursday evening. The company, which some on Wall Street had viewed as a good bet during the coronavirus outbreak due to a rise in telecommuting, said it expected revenues between $185 million and $188 million for the first quarter. Analysts expected $188.4 million, according to FactSet.

Oracle — Oracle rose more than 13% in midday trading after the company reported fiscal third-quarter earnings and quarterly earnings guidance that topped what analysts had expected. CEO Safra Catz said on a Thursday conference call that she expects $1.20 to $1.28 in adjusted fiscal fourth-quarter profit per share. The midrange of her guidance, $1.24, was just over the $1.23 per share expected by analysts polled by Refinitiv.

H&R Block — The tax preparation company rose more than 10% on Friday after BTIG upgraded the stock to neutral from sell and said its recent decline makes it look fairly valued. Analyst Mark Palmer also noted H&R Block’s 6% dividend and healthy balance sheet as potential lures in an otherwise turbulent market. “We believe HRB’s share price is likely to be supported by the stock’s 6.6% dividend yield, and at a time when investors have been asking whether some companies will need to curtail their dividends we view the company’s quarterly dividend of $0.26 per share as relatively safe,” he wrote.

J.P. Morgan, Citi, Bank of America — Bank stocks posted big gains on Friday as Treasury rates rose and Federal Reserve gave further details on its liquidity package. Bank of America gained 8.3%, while Citi rose 6.3% and JPMorgan climbed 7.5%. Payments companies like American Express and Discover Financial were also outpacing the market, rising 4.3% and 5.3%, respectively.

— With reporting from CNBC’s Jesse Pound and Yun Li. 

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