Market Focus

Urban Outfitters 

Shares of Urban Outfitters tumbled on weak results. Both earnings and revenue came in below the Street’s estimates. Offering discounts and promotions weighed on the retailer’s margins. The stock was down as much at 13 percent in after-hours trading. Before the close the stock was up almost three percent to $40.72.

Sysco

The bird flu will take a big toll on Sysco. The company, which is the largest U.S. food distributor, says the outbreak will crimp egg an chicken supplies up to 18 months. It’s too soon to tell if the supply squeeze will impact its financials. Shares were a fraction higher to close at $37.49.

Eleven Biotherapeutics 

A tough day for shares of Eleven Biotherapeutics. The stock plunged after the company announced its eye drug failed to meet goals in a late-stage study. Shares were down almost 70 percent to $3.69.

Tesoro

Tesoro has ordered new crude oil rail cars with features that surpass the safety standards regulators recently set. The new rules are aimed at curbing accidents, following a series of oil train explosions in the U.S. and Canada. Shares rose 1.5 percent to $92.79.

ConocoPhillips 

ConocoPhillips expects to maintain its current capital expenditure levels for another three years. Earlier this year the energy producer joined other oil majors in cutting spending in the wake of declining oil prices. Shares were a fraction higher to $66.04.

Tesla 

Consumer Reports’ review of Telsa’s top of the line Model S was less than spectacular. In fact, the magazine deemed the car “undriveable” because the retractable door handles on the $127 thousand vehicle wouldn’t work. The good news was Tesla picked up the car and repaired the handle glitch efficiently. Shares of Tesla were off a fraction to $248.75 today.

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