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Hertz, Ulta Salon among biggest premarket movers

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[September 12, 2014]  By Ryan Vlastelica

NEW YORK (Reuters) - Hertz Global and Ulta Salon Cosmetics were among the biggest premarket movers on Friday, with both companies rallying on heavy volume.

Shares of Hertz gained 4.6 percent to $29.03 a day after billionaire investor Carl Icahn won three board seats at the car renter. He said he would not run a proxy contest against the company as a result. The news came less than a month after Icahn announced a stake of 8.7 percent in the company.

With the gain implied by the premarket move, Hertz will turn positive for the year on Friday. It is currently down 3 percent in 2014.

Ulta Salon jumped 16 percent to $112.98 a day after it raised its full-year view for both same-store sales and earnings. On Friday, several analysts raised their price target on the stock, including Goldman Sachs and Morgan Stanley.

The stock has struggled for direction over the past two years, dipping 1.8 percent over 2013 but rising less than 1 percent thus far in 2014.

Friday's move is on track to be the biggest one-day advance for Ulta since September 2013.

(Editing by Bernadette Baum)

[ 2014 Thomson Reuters. All rights reserved.]

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