Stocks – Ulta Beauty Slumps in Premarket while Tesla, Big Lots Rise

© Reuters. – Stocks in focus in premarket trading on Friday:

• Ulta Beauty (NASDAQ:) stock slumped 25% in premarket trade by 8:20 AM ET (12:20 GMT) after it cut its profit forecast due to slowing demand growth for cosmetics. It now expects comparable sales to rise by as little as 4% this year, having earlier predicted a range of 6%-7%.

Campbell Soup (NYSE:) stock was up 2.3% after its quarterly earnings came in above estimates, with organic sales rising 2%.

• Tesla (NASDAQ:) stock gained 4% after the Chinese Ministry of Industry and Information Technology said it would exempt 16 Tesla models from a purchase tax. The electric car company also raised prices for some of its models in China due to depreciation of the yuan.

• Walt Disney (NYSE:) stock inched up 0.4% after it sold its 80% stake in the YES Network to an investor group that includes the New York Yankees, (NASDAQ:) and Sinclair Broadcast Group.

•Big Lots (NYSE:) stock rose 7.2% after the discount retailer beat forecasts and said it would be able to navigate tariff-related headwinds.

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