U.S. stocks ended higher Tuesday, following on from a solid tech-led rally, as investors tracked a pullback in Treasury bond yields and a busy slate of corporate earnings.
Here are some of the laggards in the stock market on Tuesday.
1. Ulta Beauty | Decrease 11%
Ulta Beauty (ULTA) - Get Ulta Beauty Inc Report stock came under pressure Tuesday after the beauty-products retailer projected sales to grow 5% to 7% for fiscal 2022 through 2024. Ulta expects same-store sales to rise 3% to 5% every year and sees low-double-digit growth in earnings per share.
2. Atea Pharma | Decrease 66%
Shares of Atea Pharma (AVIR) plunged after the drugmaker said that in a critical mid-stage trial its developing Covid treatment failed to meet expectations of reducing patient virus levels.
3. Procter & Gamble | Decrease 1.2%
Shares of Procter & Gamble (PG) - Get Procter & Gamble Company Report struggled after the consumer-products giant reported better-then-expected fiscal-first-quarter earnings and revenue but said it was facing rising commodity and transportation costs amid supply chain disruption.
4. Virgin Galactic | Increase 0.6%
Shares of Virgin Galactic (SPCE) - Get Virgin Galactic Holdings Inc Report wavered after analysts at Morgan Stanley lowered their price target on the space tourism company to $17 a share from $25. Virgin Galactic last week said it would delay its space-flight tests to 2022.
5. Macy's | Decrease 6.1%
Shares of Macy's (M) - Get Macy's Inc Report retreated Tuesday. On Monday they rose 17% after activist investor Jana Partners proposed that the retail chain split its e-commerce business into a separate, privately held company.
Macy’s is reportedly in talks with private equity investors about investing in its e-commerce business, according to a Wall Street Journal report. The Journal first disclosed a Wednesday letter from Jana to Macy’s directors.