Stock Market Update

[BRIEFING.COM] The major averages maintain their early gains following a sizable batch of economic data this morning. 

On the earnings front, Ulta Beauty (ULTA 610.18, +76.23, +14.28%) is the best-performing S&P 500 stock after reporting its Q3 (Oct) results last night, reaching a new all-time high. The beauty retail giant comfortably beat expectations on the top and bottom line, continuing its streak of large double-digit EPS upside, while revenue increased 12.9% to $2.86 billion, its strongest growth in nearly three years. It also raised its full-year guide for EPS and revenue above expectations to $25.20-25.50 and about $12.3 billion, respectively, as well as comp sales to +4.4-4.7%.

Meanwhile, Paramount Skydance (PSKY 13.78, -1.04, -7.02%) is at the bottom of today's standings after losing out in the bidding war for Warner Bros. Discovery (WBD 25.40, +0.86, +3.52%) to Netflix (NFLX 102.41, -0.81, -0.78%).