Updates, advisories and surprises
8/20/12 4:31 PM ET (MarketWatch)
Urban Outfitters profit up 8%, shares jump 11%
(4:23 PM ET) SAN FRANCISCO (MarketWatch) -- Urban Outfitters Inc.(URBN) reported late Monday a second-quarter profit rose 8% to $61.3 million, or 42 cents a share, from $56.7 million, or 35 cents a share, a year ago. Revenue for the three months ended July 31 rose 11% to $676.3 million from $609.2 million. Analysts surveyed by FactSet had predicted the Philadelphia-based retailer would post earnings of 33 cents a share on $672 million in sales. Urban Outfitter shares jumped as much as 11.5% on the results in after-hours trade.
WPX, Pioneer Natural dip as energy stocks fall
(9:42 AM ET) NEW YORK (MarketWatch) -- WPX Energy(WPX) dropped 1.1%, Pioneer Natural Resources(PXD) moved down by 1% and Anadarko Petroleum Corp.(APC) declined 0.8% as energy stocks moved into negative territory on Monday. The Energy Select Sector SPDR Fund(XLE) , which includes energy stocks in the S&P 500($SPX) , fell 0.2%. Bucking the trend, Phillips 66(PSX) rose 0.8% and Kinder Morgan Inc.(KMI) rose 1.2%.
Ross Stores upgraded to buy at BofA Merrill Lynch
(7:50 AM ET) NEW YORK (MarketWatch) -- Ross Stores Inc.(ROST) drew an upgrade to buy from neutral on Monday from Bank of America Merrill Lynch. Analysts increased their target price on the stock to $80 a share from $68 a share. Bank of America Merrill Lynch analysts forecast comparable store sales outperformance, market share gains, square-footage growth and shareholder returns from the company. "We expect Ross will continue capturing more customers," analysts said.
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