KUALA LUMPUR, Sept 28 (Bernama) -- Bursa Malaysia ended marginally lower on Monday amid selling activity as the market lacked fresh catalysts to spur investors’ buying interest, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.60 points, or 0.09 per cent, to 1,670.02, from Friday’s close of 1,671.62. The benchmark index, which opened 0.93 of-a-point higher at 1,672.55, moved between 1,668.61 and 1,674.11 throughout the trading session. Market breadth was negative as losers surpassed gainers 748 to 388, while 517 counters were unchanged, 1,271 untraded and 91 suspended. Turnover slipped to 3.11 billion units worth RM2.40 billion from 4.07 billion units valued at RM2.69 billion on Friday.
Shares of Ulta Beauty (ULTA.US) dropped 2.6% to $334.33 on Thursday following a downgrade by William Blair analyst Dylan Carden, highlighting concerns over the company’s shift to online commerce and broader challenges in the beauty industry. Key Highlights Stock Performance: Ulta shares are down 31.9% year-to-date , on track for their worst year since 2008 , when they fell 51.72%. Analyst Downgrade: Carden downgraded Ulta from Outperform to Market Perform after reassessing expectations set during the company’s Analyst Day on Oct. 16. Analyst Concerns Overoptimistic Projections for 2025: Consensus estimates for 2025 comparable sales and operating margin assume an early inflection in the beauty market that may not materialize. Impact of E-Commerce: The shift to online shopping poses a long-term threat to Ulta’s retail stores, introducing “heightened, more dynamic competition” and potential market share erosion. As prestige brands expand online , Ulta risks either losing share to c...