Stocks to Watch: URBN, GNC, WOLF & More
Take a look at some of Tuesday morning’s early movers:
Urban Outfitters - The retailer’s fourth-quarter results fell short of analyst estimates — it earned 27 cents a share for the quarter, two cents below consensus, with revenues also missing the mark.
GNC - The nutrition products retailer raised its current quarter guidance, saying sales are growing at a faster pace than it had previously expected.
Apple - Jefferies & Co. is raising earnings estimates and price target for Apple, after boosting 2012 sales projections for the iPhone and continuing to anticipate the launch of the iPhone 5 in the third quarter. It also says concerns being raised about the new iPad are overdone.
Midas - The automotive-services provider is being acquired by private equity firm TBC for $11.50 per share in cash, compared to the Monday closing price of $8.99.
Great Wolf - The indoor waterpark operator is being acquired by an affiliate of private equity firm Apollo Global $5.00 per share in cash, compared to Monday’s close of $4.19.
Yahoo! - Yahoo is suing Facebook in a legal dispute over 10 patents related to advertising, technology, and privacy.
CME Group - CEO Craig Donohue will retire in December. Current President Phupinder Gill will replace Donohue as CEO at that time, and executive chairman Terrence Duffy will add the president’s role to his duties.
IAC/InterActiveCorp - The company’s Aereo online TV service is filing a countersuit against broadcasters who are trying to shut it down. Aereo is seeking a declaration that it does not infringe the broadcasters’ copyrights. Walt Disney, CBS, and Comcast’s NBCUniversal are among those seeking an injunction against Aereo.
US Airways - The airline has registered several Internet domain names that hint of a possible transaction involving bankrupt American Airlines parent AMR. In a statement to CNBC, US Airways says it is studying the potential opportunities in such a transaction, but that the purchase of the domain names is merely a way to protect its trademarks.
Express Scripts, Medco Health Solutions - The two are delaying the closing of their $29 billion merger, according to an SEC filing. The two want to give antitrust regulators more time to finish assessing the deal, hoping to avoid presenting regulators with a deadline that would prompt them to block the deal.
Cablevision Systems - Deutsche Bank has downgraded the stock to “hold” from “buy,” saying current earnings consensus appears to be too high, and also questioning recent strategic moves by the cable operator.
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