Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.28%) is in second place on Friday afternoon, slightly higher compared to levels from the previous half hour.

Briefly, S&P 500 constituents Cooper (COO 69.00, -10.96, -13.71%), Lam Research (LRCX 80.32, -3.84, -4.56%), and Eastman Chemical (EMN 77.94, -3.56, -4.37%) dot the bottom of the standings. COO slides after lowering its FY25 organic growth outlook despite beating Q2 estimates. Analysts flagged softening demand in vision and fertility markets, with JPMorgan downgrading the stock on concerns the slower growth profile no longer justifies a premium valuation. EMN dips after losing a $375M DoE grant tied to its Longview molecular recycling project, forcing a likely scale-back of the facility. The setback raises concerns about project economics and delays tied to its rPET supply contract with Pepsi (PEP 131.70, -0.22, -0.17%).

Meanwhile, Ulta Beauty (ULTA 470.67, +48.88, +11.59%) is today's top performer following earnings.