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Urban Outfitters shares decline after Jefferies warned about slowing foot traffic at the clothing and shoe retailer.Jefferies cut its rating on the stock to Underperform from Hold, and reduced the price target by $10 to $32.Analyst Corey Tarlowe said along with declining foot traffic, Urban Outfitters faced promotional pressures and more competition.
Urban Outfitters shares decline after Jefferies warned about slowing foot traffic at the clothing and shoe retailer.Jefferies cut its rating on the stock to Underperform from Hold, and reduced the price target by $10 to $32.Analyst Corey Tarlowe said along with declining foot traffic, Urban Outfitters faced promotional pressures and more competition.
The Travelers Companies posted lower-than-expected profit as its catastrophe losses soared.The property and casualty insurer had $712 million in catastrophe claims payouts in the quarter, a 33.1% increase from a year earlier.The company also announced a 5% increase in its quarterly dividend.
Genuine Parts beat profit estimates and raised its outlook as acquisitions helped lift automotive parts sales.The company behind the NAPA Auto Parts brand saw a decline in sales at its Industrial Parts Group.CFO Will Stengel said Genuine Parts showed operating discipline as it faced slow sales growth.
Infosys' results were negatively affected by the modification of a big contract, and its American depositary receipts (ADRs) fell Thursday.The India-based information technology services company's fourth-quarter fiscal 2024 revenue came in short of forecasts.Infosys also reduced its full-year sales growth guidance.