Why Urban Outfitters and Compuware Are Up Big
Urban Outfitters (NASDAQ:URBN) stock is leading retail clothiers higher today, trading up 5.70% as news breaks that forthcoming June retail sales reports will be stronger than expected. JP Morgan (NYSE:JPM) analyst Brian Tunick writes, “After a huge April spending binge (having both Easter and Mother’s Day so close together) and thus a big sequential slowdown in May, it appears that spending patterns perked up again in June. Some more seasonable weather patterns in some parts of the country, some relief in gas prices, and increased promotions in the malls likely helped to lead to some better conversion.” Other retail and wholesale stocks getting tossed into carts by investors today are Costco (NASDAQ:COST) up 1.34%, Target (NYSE:TGT) up 1.58%, American Eagle (NYSE:AEO) up 2.66%, Abercrombie & Fitch (NYSE:ANF) up .99%, and Walmart Stores (NYSE:WMT) up .58%.
Web old-timer Compuware (NASDAQ:CPWR) also up far ahead of the market today, gaining 5.73% on last check, thanks to news that it will acquire DynaTrace, a performance management software developer, for $256 million in cash. CPWR stock is still down over 13% in 2011. Last month the company’s long-time CEO, co-founder Peter Karmanos, resigned from his post, a move that some analysts liked, says MarketWatch. Competitors to Watch: Oracle Corporation (NASDAQ:ORCL), CA, Inc. (NASDAQ:CA), Intl. Business Machines Corp. (NYSE:IBM), Quest Software, Inc. (NASDAQ:QSFT), BMC Software, Inc. (NASDAQ:BMC), Novell, Inc. (NASDAQ:NOVL), Red Hat, Inc. (NYSE:RHT), Microsoft Corporation (NASDAQ:MSFT), OPNET Technologies, Inc. (NASDAQ:OPNT).
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