Earnings News: Urban Outfitters Inc (URBN), International Rectifier Corporation (IRF), Facebook (FB)

Category: Companies / Aug 19, 2013 5:59PM EDT

Urban Outfitters, Inc. (NASDAQ: URBN) reported better-than-expected second quarter earnings results, as the retailer issued EPS of 51 cents, versus estimates for earnings of 48 cents a share. Revenue jumped 12 percent from the same quarter last year to $759 million.

On Monday, shares of Urban Outfitters, Inc. jumped 6.01 percent to $42.32 in after-hours trading.

International Rectifier Corporation (NYSE: IRF) reported a narrower loss for the company’s fiscal fourth quarter, as it booked a loss of 2 cents a share, compared with Wall Street estimates for a loss of 10 cents a share. Revenue came in at $276.5 million, a 23.3 percent rise compared with revenue of $224.3 million in the year-ago period.

Shares of International Rectifier Corporation edged up 0.95 percent to $24.50 in extended-hours trading.

After the closing bell, shares of Facebook Inc. (NASDAQ: FB) edged up after Janney Capital initiated coverage of the social-networking giant with a “Buy” rating and price target of $50, adding that the company has benefited from many drivers like mobile advertising and recent investments.

Shares of Facebook Inc. rose 0.63 percent to $38.05 after the market closed.

Zynga Inc. (NASDAQ: ZNGA), on the other hand, was hit with a “Sell” rating by Janney Capital and a price target of $2.50. Janney said despite rapid growth in mobile opportunities, analysts are concerned about next generation risk.

Shares of Zynga Inc. edged up 0.35 percent to $2.84 in extended-hours trading.

On the earnings calendar for Tuesday, investors will look to results from J.C. Penney Company Inc. (NYSE:JCP), The Home Depot Inc. (NYSE:HD), Best Buy Co. Inc. (NYSE:BBY), Barnes & Noble Inc. (NYSE: BKS), Saks Inc. (NYSE:SKS) and more.

Wall Street was flat on Monday, as both the Dow and S&P 500 recorded their first four-day losing streaks in 2013, as investors fear when the Federal Reserve might start to taper its stimulus measures.

The Dow Jones industrial average dropped 70.73 points or 0.47 percent, to close at 15,010.74. The S&P 500 Index was down 9.77 points or 0.59 percent, to close at 1,646.06. The Nasdaq Composite fell 13.69 points, or 0.38 percent, to close at 3,589.09.