Morning Market Movers
Covenant Transportation Group (NASDAQ: CVTI) rose 11.20% to $27.20 after the company issued a strong Q4 earnings forecast.
The Advisory Board Company (NASDAQ: ABCO) shares surged 9.85% to $41.48. Advisory Board announced its plans to acquire Royall & Company for $850 million. Analysts at Stifel Nicolaus upgraded Advisory Board Company from Hold to Buy.
Restoration Hardware Holdings (NYSE: RH) shares gained 9.53% to $94.39 following earnings results that beat analyst expectations.
Office Depot (NASDAQ: ODP) shares rose 9.29% to $7.35 after Starboard Value boosted its stake in Office Depot to around 10% from a previous 8.6% stake, The Wall Street Journal reported.
Staples (NASDAQ: SPLS) shares climbed 8.94% to $16.14 on confirmation of stake by Starboard Value.
Lululemon Athletica (NASDAQ: LULU) jumped 8.91% to $50.86 after the company reported better-than-expected quarterly earnings. However, the company issued a weak forecast.
Urban Outfitters (NASDAQ: URBN) climbed 7.46% to $32.25 after the company issued a strong same-store sales forecast for the current quarter.
Walgreen Company (NYSE: WAG) shares climbed 2.57% to $69.90 after the company's President And CEO Greg Wasson announced that he will retire following the completion of merger with Alliance Boots.
Methode Electronics (NYSE: MEI) rose 2.25% to $42.54 after the company reported better-than-expected earnings for the fiscal second quarter and raised its FY15 earnings forecast.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.