We think these are the hottest stocks on Tuesday. You should, too.
Urban Outfitters Shares Go Haywire
What in the world are investors thinking here.
Shares of Urban Outfitters (URBN) surged as much as 20% on the session following much better than expected second quarter earnings. Investors may want to check their enthusiasm.
The specialty apparel retailer's key same-store sales metric fell 4.9% amid ongoing weak mall traffic. CEO and founder Richard Hayne didn't sound too optimistic on the earnings call, either.
Target Chimes In With Some Cheer, Sorta
Comeback brewing for Target (TGT) ?
"When we're at our best, we deliver inspiration and convenience," Target Chairman and CEO Brian Cornell said on an earnings call with analysts Wednesday following better than expected results.
Cornell noted that in the quarter, the retailer saw double-digit sales growth in its private-label brands but revenue from food and beverage was only flat, as grocery remains a pressured segment for the company.
Shares rose as much as 5%.
Here is why Wall Street should simmer down.
This is what TheStreet's Jim Cramer had to say about Target's results.
Pluristem Therapeutics Inc. (PSTI) rose 6% Wednesday after an announcement that the U.S. Department of Defense would test the company's PLX-R18 as a countermeasure for Acute Radiation Syndrome prior to and within 24 hours of exposure to high levels of radiation.
Haifa, Israel-based Pluristem is developing placenta-based cell therapy products.
The DOD study is being conducted in conjunction with another run by the National Institutes of Health examining subjects who would be administered PLX-R18 24 hours post exposure. The new DOD study is meant to evaluate the treatment's usefulness protecting U.S. Armed Forces prior to or soon after radiation exposure.
"We are pleased to see increased interest from U.S. governmental agencies in our PLX-R18 cell therapy," noted Zami Aberman, Chairman and co-CEO of Pluristem. "In view of the therapeutic effects of our product and the current geopolitical situation, governments can potentially shield their citizens from the dire health effects arising from exposure to nuclear radiation, saving many lives in the process, which is our ultimate goal."
Here Comes Cisco
When Cisco Systems Inc. (CSCO) reports fiscal fourth-quarter results after the closing bell on Wednesday, it'll prove whether or not the Trump administration's moves are really weighing on its business.
The networking giant warned in May that revenue would fall 4% to 6% year-over-year during the fourth quarter, as a result of weak product orders in its public sector business, particularly those that come from the federal government. Cisco's orders in the public sector unit fell 4% during the quarter.
CEO Chuck Robbins said at the time that the headwind was a "pretty significant stall...with the lack of budget visibility."
Cisco executives said that planned cuts meant many departments in the federal government weren't sure what their budgets were going to be, so they held off on spending. Trump's rocky relations with Mexico also weighed on Cisco's business there, with service provider orders down 49% year-over-year during the last quarter.
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