Urban Outfitters (URBN) plummets on Q1 results, downgrade

Urban Outfitters, Inc. URBN slipped 16.9% to $33.83 after the company reported weaker-than-expected results for the first quarter. Analysts at Oppenheimer downgraded Urban Outfitters from outperform to market perform and lowered the price target from $44.00 to $35.00. Share volume was 14.6 million, towering over an all-day average of 1.9 million