Urban Outfitters, Inc. (NASDAQ:URBN) saw its largest surge since 2003 after it posted its Q2 profit that topped analysts’ estimates since sales gained at all of its main brands. The shares increased 17 percent to $36.73 at 9:49 a.m. in New York, after earlier trading up to $37.65 for the largest intraday gain since March 2003. The Philadelphia-based retailer saw a 13 percent gain this year through yesterday’s close. Shares of Urban Outfitters, Inc. are trading 18.16% higher today.
Best Buy Co., Inc. (NYSE:BBY): Based on the business’s normal seasonality, most of the company’s annual earnings occur during the year’s second half. Because of reduced expectations for industry wide sales and uncertainty related to a number of key product launches expected during 2H of FY13, the company has lowered its annual earnings expectations. Also, the company recently announced a new CEO beginning in early September. Due to these factors, the company does not wish to further provide or update earnings guidance for FY13. However, the company is to keep providing forward looking commentary regarding business trends. Best Buy still expects to achieve its domestic market share goals for the fiscal year and to generate free cash flow in the range of $1.25 billion to $1.5 billion during FY13. Shares of Best Buy Co., Inc. are trading 2.92% lower today.
DSW Inc. (NYSE:DSW) reports a Q2 revenue totaling $512.2 million, consensus $510.94 million. Shares of DSW Inc. are trading 5.75% higher today.
Life Partners Holdings, Inc. (NASDAQ:LPHI), which has been accused of accounting fraud by the U.S. Securities and Exchange Commission, stated on Thursday that the Texas Attorney General filed a lawsuit against the company and two of the company’s directors. The suit requests a temporary restraining order that would prevent the company from doing business and that a receiver be appointed based on allegations that Life Partners made misrepresentations in life settlement sales in the state. The company’s shares, which dropped 33 percent reaching an almost 10-year low earlier on Monday, closed at $1.31 on the Nasdaq. Shares of Life Partners Holdings, Inc. are trading 16.80% higher today.
Shiner International, Inc. (NASDAQ:BEST), which is an emerging global supplier of packaging solutions for food, tobacco, and consumer products, used today to announce its financial results for the quarter that ended June 30, 2012. Revenue for the three months that ended on June 30, 2012 totaled $16.4 million, which is a decline of $1.5 million (or 8.2 percent) in comparison to the total revenue of $17.9 million for the same quarter the previous year. The drop was mainly due to decreased revenues generated from coated film and color printing, which was partially offset by a rise in revenues generated from BOPP tobacco, advanced film, and water-based latex. Shares of Shiner International, Inc. are trading 15.67% higher today.
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