Shares Plunge

• Nike's stock tumbled 13.1% after the company reported better-than-expected quarterly profits but issued weak financial forecasts. • Investors reacted negatively to cautious guidance amid softening consumer demand and competitive pressures in apparel. • The drop underscores broader concerns in consumer discretionary stocks, impacting sector sentiment on Wall Street.

Ulta Beauty stock tumbled 12.5% on Friday, March 13, 2026, becoming the biggest decliner in the S&P 500 after reporting quarterly results that fell short of Wall Street profit expectations. The company's profit was hit by a 23% surge in selling, general, and administrative expenses, which reached $1 billion in the period. This decline highlights vulnerabilities in consumer discretionary sectors amid broader market pressures from oil price volatility, with analysts watching for potential impacts on retail spending. Upcoming earnings from peers may signal if this is an isolated miss or indicative of wider consumer weakness.