ImmunoCellular Shares Down After CEO RESIGNATION and 4 Morning Hot Stocks to Watch
Urban Outfitters (NASDAQ:URBN) reports direct-to-consumer sales that are 22 percent higher, wholesale revenues up 17 percent but same-store sales down 1 percent y-on-y. Margins under pressure with gross margin down 30 bps to 37.6 percent y-on-y, but higher by 200 bps q-on-q. Brand-wise retail sales: Free People up 12 percent, Urban Outfitters up 6 percent while Anthropologie remained flat.
Shares of ImmunoCellular Therapeutics (IMUC) are down nearly 15 percent on the company’s announcement that president and CEO Manish Singh had resigned. Chief scientific officer and chairman John Yu will assume Singh’s role at the cancer drug developer until a new incumbent is selected.
Altria (NYSE:MO) boosts its FY12 EPS guidance to $2.01-$2.05 from $1.96-$2.00 as a $2 billion buyback of its senior unsecured notes results in a smaller charge than anticipated. Market analysts expect an EPS of $2.21.
Facebook (NASDAQ:FB) investor and director Peter Thiel sold 20.06 million Facebook shares after the expiry of their lockup period. The shares cost Thiel just $0.004 on an adjusted basis. Of this 9 million shares were converted from Class B to Class A in order to effect the sale. Compared to his holding of 44 million shares pre-IPO, Thiel now holds only about 8 million shares.
Firearm manufacturer Sturm Ruger (NYSE:RGR) is on track to beat its 2011 record of an annual production of 1,114,700 firearms, when it became the only such manufacturer to make more than a million firearms in a single year. On August 15 it already produced its one millionth firearm during 2012.
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