Navellier: These earnings should be a real beaut

Ulta Beauty cosmetics store, in Moorestown, New Jersey.
John Greim | LightRocket | Getty Images

Louis Navellier, the leader of CNBC's "Squawk Box" Platinum Portfolio competition with a gain of 20 percent this year, is buying cosmetics company Ulta Salon and selling botox maker Allergan in his model portfolio.

Navellier uses quantitative analysis to find stocks that have strong sales and positive earnings outlooks but moderate price multiples.

Here's why he made this move.

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