Urban Outfitters, Inc.(NASDAQ:URBN) late Monday reported an 8 percent rise in its
second quarter net profit sending its shares rallying up more than 17 percent.
Earnings came in at 42 cents a share exceeding analyst
estimates of 33 cents. Revenue rose 11
percent from a year ago to $676.3 million, higher than the $672 million in
sales analysts had anticipated.
In the year-ago period, earnings at the
Philadelphia-based company were $56.7 million, or 35 cents a share, on revenue
of $609.2 million.
How Should Investors Trade URBN Now, Find Out Here
Shares in the apparel and accessories retailer rose 13
percent to $35.30, taking its overcall gains in the past one month to 21
percent.
Meanwhile shares in ImmunoCellular Therapeutics Ltd(AMEX:IMUC)
fell after the company announced that its Chie executive Manish Singh had
resigned from his position. The company's founder and chairman john S. Yu has
taken over as the interim CEO until a suitable replacement is found.
Singh has been the chief executive of the company
since 2008 and was previously with a venture capital firm managing its medical
industry investments.
Following the announcement, shares of the company fell
12 percent or 4.3 cents to close at $2.91. In extended trading after the CEO
announcement, they fell another 36 cents to $2.55.
Can IMUC Rebound Now? Find Out Here
Last week the company reported that its second quarter
loss had widened to $6.5 million from $1.6 million a year earlier. The company
reported no revenue in either period but said it had enough cash, $11.3
million, to fund 12 months of operations.
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