Diamonds and Dogs
8/21/12RadioShack Corporation (RSH)
RadioShack continues its downward spiral today, down 7.61% at $2.67. RadioShack has lost 72.00% of its value year to date and has not been able to catch a break. Today, the company saw its shares drop based on news released by Best Buy. Best Buy released earnings this morning which were disappointing, with revenue for stores open for at least 14 months falling 3.2% year over year. With RadioShack's recent weakness, investors have been looking for reasons to leave the stock, even if it involves another company. Best Buy is deemed a stronger company, so naturally poor earnings for Best Buy will negatively impact RadioShack. RadioShack is pushing near its 52-week low again.
Urban Outfitters Inc. (URBN)
Urban Outfitters is dressed for success today, up 18.29% at $37.00. The clothing company is back in fashion after releasing a better than expected earnings report. For the second quarter, Urban Outfitters reported an 8% increase in net income to $0.42 on an 11% jump in revenue to $676.3 million. Both figures beat analyst estimates of a profit of $0.33 on sales of $672 million. Among the companies various chains, its flagship Urban Outfitters brand, had sales growth of 14%, with Anthropologie (another chain) showing 3% growth. The company bounced to a new 52-week high today, beating the previous high by around $5.20.
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