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Key Takeaways
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The S&P 500 jumped 2.1% on Friday, March 14, wrapping up a volatile week as government shutdown concerns dissipated.
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Ulta Beauty shares took off after the cosmetics retailer topped analysts' estimates for its fiscal fourth quarter.
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Shares of Abbott Laboratories slid after a judge granted a retrial in a liability case related to the company's premature infant formula.
Major U.S. equities indexes pushed higher on Friday after Senate Democrats walked back threats to reject a Republican spending bill, alleviating some concerns about an impending government shutdown.
The S&P 500 popped 2.1% higher. The Dow advanced 1.7%, while a resurgence among tech stocks helped lift the Nasdaq 2.6%. Despite Friday's recovery, all three market gauges ended in negative territory for the full week as uncertainty around U.S. trade policy remained in focus.
Ulta Beauty (ULTA) shares surged 13.7%, gaining the most of any S&P 500 stock on Friday after the cosmetics retailer reported better-than-expected earnings per share, net sales, and comparable sales for its crucial holiday quarter. Ulta CEO Kecia Steelman, who took the helm at the beginning of 2025, indicated that the upcoming fiscal year will be critical as the seller of makeup and personal care products invests in growth and business optimization.
Crown Castle (CCI), a real estate investment trust (REIT) focused on communication infrastructure, agreed to sell its fiber optics business to EQT Active Core Infrastructure Fund and Zayo Group Holdings for a combined total of $8.5 billion. The company intends to use proceeds from the transaction to reduce its debt and initiate a share repurchase program. Shares of Crown Castle soared 10.4%.
Shares of big data analytics firm Palantir Technologies (PLTR) jumped 8.3% after CEO Alex Carp announced an array of new partnerships with defense manufacturing start-ups, stressing the economic and national security importance of bolstering the domestic industrial base. Some of the companies that will be leveraging Palantir's AI software include vertical-takeoff aircraft company Archer Aviation and autonomous marine vessel firm Saildrone.
Abbott Laboratories (ABT) shares slipped 2.4%, posting the S&P 500's weakest daily performance, after a Missouri state judge granted a retrial request in a liability lawsuit related to the company allegedly obscuring possible risks of its premature infant formula. However, Bank of America analysts maintained their "buy" rating on Abbott stock, noting that the retrial decision opens the possibility of additional legal action but does not overturn the original verdict.