Urban Outfitters up 6.8% After CEO Appointment

Urban Outfitters URBN is trading higher on the session following the announcement that it appointed Tedford Marlow as CEO. This appointment also received positive mentions by analysts and Oppenheimer is maintaining the Outperform rating on the company. Oppenheimer said in the report, "On Thursday after the close it was announced that Ted Marlowe would be returning to URBN as CEO of the Urban Outfitters Group. We view this announcement, which has come after weeks of speculation, as extremely positive and further proof that new CEO (and founder) Dick Hayne is decisively taking action to accelerate the turn across divisions." Urban Outfitters is currently trading at $28.23, a gain of $1.79 or 6.77%.