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The article discusses the S&P 500 index and identifies two stocks, CrowdStrike (CRWD) and Ulta Beauty (ULTA), that are poised to outperform, and one stock, Intercontinental Exchange (ICE), that could be in trouble. CRWD is highlighted for its strong new contract wins, sales outlook, and well-designed software. ULTA is seen as a winner due to its offensive push, free cash flow profitability, and return on invested capital. ICE is hesitant due to underperformance in earnings per share growth and high valuation ratio.

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