From Fnno.com, this is the Financial News Network. Here's a few things to watch for in the financial world today August 21.
Urban Outfitters (NYSE:URBN) announcing its second quarter results this morning. The retailer posted an EPS of 42 cents per share, above the street's estimate of 33 cents. Revenue for the quarter rose to $676 million, also beating the average analyst estimate of $671.58 million. The boost in profit could be due to the company rehiring co-founder Richard Hayne as chief executive officer this past January. He was brought aboard to turn around Urban's business after increased discounts caused profits to shrink.
Life Partners Holdings (NASDAQ:LPHI) popular among investors this morning after a court ruled in their favor over accounting fraud allegations. The Texas Attorney General filed a lawsuit against the life settlement firm in response to the U.S. Securities and Exchange commission saying it made misrepresentations in the sale of life settlements. The suit sought a temporary restraining order preventing the company from doing business in the state of Texas. The judge in the case refused to grant the order and said it will continue doing business until a temporary injunction hearing set for August 30.
Finally, Medtronic (NYSE:MDT) also posted its quarterly results this morning. The medical device maker posted a first quarter EPS of 85 cents on revenue of $4 billion, higher than the same time last year and in line with analyst expectations. Medtronic has been battling pressure in some of its market segments due to high unemployment and government scrutiny of medical practices. However, the company found a way to find some profit with earnings rising 5.2% from the previous year.
Those were a few things to watch out for here on the Financial News Network. For more coverage and analysis of the business world follow us on twitter @FNNOnline or check out our website at fnno.com.