Shares of Ulta Beauty Are Soaring on Stimulus Deal Chances, Balance Sheet Moves

Shares of Ulta Beauty (NASDAQ: ULTA) were up sharply on Tuesday, on growing optimism about the chances of a stimulus deal in the U.S. and after the company announced measures to bolster its balance sheet.

As of 1:15 p.m. EDT, Ulta Beauty's shares were up about 22.5% from Monday's closing price.

News that Congress was close to agreement on a massive stimulus deal drove a broad-based market rally on Tuesday. But Ulta Beauty's shares outpaced the overall market gains, as investors looked for quality among beaten-up retail stocks.

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Source Fool.com