Shares of Urban Outfitters Inc. (NASDAQ:URBN) dropped more than 4 percent early Tuesday. The retailer reported fourth quarter results late Monday. Net income for the company fell to $39.3 million (27 cents per share), compared to $75.2 million (45 cents per share) a year earlier.
Apple Inc. (NASDAQ:AAPL) shares popped almost 1 percent before the opening bell. Peter Misek from Jefferies & Co. reiterated a Buy rating on shares and raised his price target to $699.
Cornerstone Therapeutics Inc. (NASDAQ:CRTX) shares surged 9.35 percent in early morning trading. The company announced that the FDA accepted a new drug application for CRTX 080. The new drug is for the treatment of hyponatremia.
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Due to antitrust regulators needing extra time, Express Scripts Inc. (NASDAQ:ESRX) and Medco Health Solutions Inc. (NYSE:MHS) are delaying the closing of their merger. According to an SEC filing, the deal would create the largest U.S. pharmacy benefits manager. Shares of both companies increased about 1.5 percent Tuesday morning.
Shares of Great Wolf Resorts Inc. (NASDAQ:WOLF) jumped 22 percent on buy out news. Private-equity giant Apollo Global Management (NASDAQ:APO) is buying the water-park hotel operator in a deal that values the company at $165 million.
Goldman Sachs (NYSE:GS) and Citigroup Inc. (NYSE:C) shares gained nearly 2 percent this morning. Banking stocks are performing well across the board as the Federal Reserve prepares to release stress test results on Thursday.
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