X The stock market took a breather Friday ahead of the three-day Memorial Day weekend. All three three major indexes — the Nasdaq, S&P 500, and Dow Jones industrial average — were trading around their break-even points through morning trade. Volume was tracking slightly higher on the Nasdaq but lower on the NYSE vs. the same time Thursday.
Home Depot (HD) carried the honor of being the biggest laggard among the blue chips, falling 0.6%. IBM (IBM) and Wal-Mart Stores (WMT) fell 0.5% each.
Two retail stocks were among the top performers on the S&P 500 due to positive earnings releases. Ulta Beauty (ULTA) moved up 3.5% as the company exceeded Q1 estimates on better-than-expected same-store sales gains. Shares are extended from a 289.37 flat-base entry. Costco (COST) surged almost 2% after beating fiscal Q3 targets late Thursday.
On the downside, profit-taking was evident in Best Buy (BBY) following Thursday's 21% price jump. The retailer fell more than 2%. Energy stocks were some of the other laggards, with Anadarko Petroleum (APC) and Transocean (RIG) falling about 1% each.
Burlington Stores (BURL) gave back much of Thursday's gains, falling 3.2% despite Goldman Sachs boosting its price target on the stock from 106 to 111.
Software provider Veeva Systems soared 6.5% after crushing Q1 top- and bottom-line estimates late Thursday. Shares are over 40% above a 45.95 cup-with-handle entry.
On the downside, video game maker Activision Blizzard (ATVI) and networking company Arista Networks (ANET) fell 1.4% and 1%, respectively.
RELATED:
Are Stock, Bond Markets Open On Memorial Day?
Costco Beats After Burlington Soars, Dollar Tree Guides Low
Dow Jones Industrial Average And Dow Stocks: News And Analysis
