Urban Outfitters, Alliant Tech, VimpelCom, Mantech Among Top Stock Price Percentage Decliners Mar 13th
Urban Outfitters, Inc. (NASDAQ:URBN): Urban Outfitters (NASDAQ:URBN) is still having difficulty connecting with fashion trends and managing merchandise, Barron’s reports. Same-store sales continue to be weak. And deep discounts, to move clothes, is pressuring margins. Also, rising gas prices could crimp sales Trading at 14.5x forward earnings, it is pricier than most of its competitors. The shares closed at $27.95, down $1.56, or 5.29%. They have traded in a 52-week range of $21.47 to $33.90.
Alliant Techsystems Inc. (NYSE:ATK): Reaffirms FY12 revenue view approximately $4.6B versus consensus $4.56B. The shares closed at $54.03, down $3.58, or 6.21%. They have traded in a 52-week range of $51.26 to $76.24.
VimpelCom Ltd (NYSE:VIP): Reported Q4 revenue $5.9B. The net loss was impacted by $437M of non-cash items, related to Purchase Price Allocation and Impairments. The shares closed at $11.30, down $0.52, or 4.4%. They have traded in a 52-week range of $8.83 to $14.74.
Mantech International Corp (NASDAQ:MANT): Government contractors Booz Allen Hamilton (NYSE:BAH) and Mantech (NASDAQ:MANT) are declining after both stocks were downgraded by Wells Fargo. After conducting channel checks, Wells Fargo believes that pricing pressure on government contractors is becoming more widespread. Furthermore, as a result of political factors the firm expects the federal government’s FY13 budget to be delayed and automatic funding reductions to be kept in place for some time. The firm, which downgraded Booz Allen to Market Perform from Outperform and set a valuation range of $16-$18 for the stock, noted that the company’s San Antonio office had lost the ability to compete for new Air Force contracts for three years. Meanwhile, Wells, which downgraded Mantech to Underperform from Market Perform and set a valuation range of $28-$31 for the stock, expects that company to be hurt by reduced spending on wars. The shares closed at $33.44, down $0.97, or 2.82%. They have traded in a 52-week range of $29.33 to $46.26.
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