Subject: ULTA has a Great Growth Story

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Rover's Weekly Market Brief
Rover

Indices

Dow Jones: 17,400.80 (-1.55%)

NASDAQ: 4,707.98 (-1.92%)

S&P 500: 2,037.31 (-1.64%)

Commodities

Gold: 1,316.40 (+1.67%)

Copper: 212.00 (+3.36%)

Crude Oil: 50.11 (+4.44%)

Economy

In a historic referendum on June 23, UK voters approved Brexit, or a British exit from the European Union, by a margin of 4%. UK Prime Minister David Cameron, who had wanted to remain in the EU, plans to resign in October. A majority of Scotland and Northern Ireland citizens voted to stay in the EU, renewing the possibility for independence referendums in those countries. The UK’s decision has stunned the rest of the world, causing markets to immediately slide and the value of the British pound to dive. The long-term reach and intensity of the economic effects of the decision are uncertain.


In the US, the weekly jobless claims report was positive, with seasonally-adjusted initial claims falling sharply by 18,000 to 259,000 for the June 18th week. This brings the number of Americans filing for first-time unemployment benefits to a 43-year low. Continuing claims were also at their lowest since 2000. These reports contribute to evidence that the labor market is healthy and stable.


The housing market continues to display modest strength, with existing home sales rising 1.8% in May and the median home price rising 3.8%. Year over year, the increase in sales is up but soft at 4.5%. The median price is up 4.7% YoY. The South and the Northeast are the strongest regions, while the West is lagging, with sales down YoY by 1.7%.

Upcoming Economic Reports:

Tuesday June 28 — Gross Domestic Product (a measure of economic activity)

Wednesday June 29 — Personal Income and Outlays (consumer sector strength)

Earnings Calendar

Mon
KLBY
SFTBY
Tues
NKE
ACGBY
Wed
BMXF
MON
Thurs
STZ
CAG
Fri
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Why We Sold Chipotle and Bought Ulta

 

We just replaced one of the poor performers in our growth portfolio (CMG) with a shiny new growth stock called ULTA. It’s a cosmetics and salon retailer that seems to have carved a true niche for itself in the crowded (but growing) beauty marketspace. It doesn’t come cheap, but we think this company has the chops to go all the way.

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Bargains & Analyst Picks in Ideas

 

Since the market was battered at the end of the week, we’re in bargain-hunting mode. This week see what our Bargain Hunter screeners are finding in the Ideas panel, plus find GARP picks and stocks rated “buy” by analysts.

Did you know that you can add screeners from the Ideas panel to your account with one click? Just click “Add to Account” to try it!

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Classic & Original Screeners Available in the Library

 

While we’re on the subject of screeners, we have a brand new page that details some of our most popular screeners, including those based on classic strategies as well as Stock Rover originals. All of these screeners are available in our Library. Read about all of them here and try one out to help you pick your next winner.

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Due to the holiday, Rover's Market Brief will take a short hiatus next weekend. Enjoy the 4th and see you in two weeks!

Wishing you a productive week,

The Stock Rover Team

www.stockrover.com

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