Urban Outfitters and 2 Blue Chips Stocks Dragging the S&P 500 into the Red

The S&P 500 (NYSEARCA:SPY) is down by 0.22% today and stands at 1,289.21. Here are three notable stocks that are experiencing large declines today.

Urban Outfitters inc (NASDAQ:URBN): As the latest quarterly report was rocky, CEO Glen T. Senk has resigned. Senk, who had held the title since 2007, will be replaced by Chairman Dick Hayne, a move that gives investors the opportunity to establish long-term positions in this company at a depressed price. Citi complains about the management instability, but this could be a good time to buy. URBN shares recently traded at $24.45, down $4.96, or 16.87%. They have traded in a 52-week range of $21.47 to $39.26. Volume today was 22,878,759 shares versus a 3-month average volume of 3,249,510 shares. The company’s trailing P/E is 18.03, while trailing earnings are $1.36 per share.

Don’t Miss: Urban Outfitters Falls Following CEO Resignation.

Supervalu inc. (NYSE:SVU): Revenues are expected to decline 2.9% over last year’s period, while earnings per share are expected to remain even at $0.24. The company has been facing constant declines in traffic over the past three years. SVU shares recently traded at $7.37, down $1.02, or 12.16%. They have traded in a 52-week range of $6.26 to $11.77. Volume today was 10,200,995 shares versus a 3-month average volume of 5,468,320 shares. The company’s trailing P/E is 55.41, while trailing earnings are $0.13 per share.

Walgreen Co. (NYSE:WAG): The company’s EPS is expected to grow 11.72% next year and 10.06% over the next five years. Last week, same-store sales beat the consensus. WAG shares recently traded at $34.05, down $0.35, or 1.02%. They have traded in a 52-week range of $30.34 to $47.11. Volume today was 3,675,245 shares versus a 3-month average volume of 8,632,820 shares. The company’s trailing P/E is 11.52, while trailing earnings are $2.96 per share.

Investing Insights: SUPERVALU INC. Earnings: Profit Streak Snapped by a Loss.

To contact the reporter on this story: Scott Gillette at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com