A shopper exits an Urban Outfitters store in New York.
Michael Nagle | Bloomberg | Getty Images
Check out the companies making headlines after the bell:
Shares of Urban Outfitters tanked more than 15% during extended trading after the retailer reported a third-quarter earnings miss on the top and bottom line. The company posted earnings of 56 cents per share on revenue of $987 million, falling short of the 57 cent EPS and revenue of $1 billion Wall Street expected, according to Refinitiv.
Total company same-store sales increased 3%, topping the 2.8% increase analysts expected. Free People same-store sales increased 9%, while Anthropologie’s increased by 4%. Analysts had forecast increases of 4.8% and 2.0% respectively, according to Refinitiv consensus estimates. The company’s namesake brand posted flat same-store sales growth, however, versus the 2.4% increase expected.
Amarin shares slipped 4% following news that Oppenheimer analyst Leland Gershell downgraded the biopharmaceutical company to underperform with a price target of $7. The analyst cited the shrinking likelihood of the company as an M&A target along with underwhelming sales growth and large selling costs, according to StreetInsider.com. Amarin’s shares closed at $22.73 Tuesday and are up approximately 67% year to date.
Shares of Endo International popped 4% after the bell following the company’s announcement that the Food and Drug Administration accepted its cellulite treatment for review. The target action date for its license application is July 6, 2020. Endo’s shares are down roughly 39% year to date.
Shares of New York Mortgage Trust sank nearly 3% after the real estate investment trust announced a new public offering of 25 million of its common stock. Morgan Stanley will underwrite the offering. The company said it plans to use the funds for general business purposes. Its shares are up roughly 6% year to date.