U.S. shares of Deutsche Bank advanced more than 2% after announcing a settlement with many plaintiffs in a long-running case tied to its acquisition of Postbank.

The German bank said it had come to agreements with more than 80 plaintiffs, which equates to almost 60%, for a settlement of 31 euros ($34.53) per share. It’s tied to the lawsuit claiming Deutsche Bank underpaid when buying Postbank more than a decade ago.

Shares are up more than 15% in 2024.

— Alex Harring, Jenni Reid

European stocks opened marginally higher Thursday as investors look for indications from the Federal Reserve on the future path of interest rates.

The pan-European Stoxx 600 index was up 0.10% in early trade, with the majority of sectors and major bourses in the green. Travel and leisure stocks were up 0.44% while mining stocks fell 0.55%.

It comes after the pan-European benchmark ended the day higher on Wednesday, with the majority of sectors in positive territory as markets rebounded after snapping a winning streak on Tuesday.

Urban Outfitters easily beat earnings expectations ($1.24 vs. $1.00 estimate), while revenues were about in line with what analysts projected. But shares are falling after the apparel retailer’s same-store sales figures disappointed.

The company’s namesake brand continues to be a major problem. Sales of stores open for at least a year for the Urban Outfitters brand fell 9.3% in the latest quarter — more than the 8.3% decline Wall Street expected. That is the ninth consecutive quarter of same-store sales declines for the brand.

The 9% decline during the most recent quarter also compounds the significant weakness from the past 2 years. In the year-ago quarter, the Urban Outfitters brand saw a 14% drop in same-store sales, and that was on top of a 9% drop from the quarter 2 years ago.

— Robert Hum

The health care, utilities, real estate and consumer staples sectors inside the S&P 500 all touched 52-week highs on Wednesday, according to FactSet data. None closed more than 0.74% below the 52-week high (utilities), and real estate stocks closed only 0.08% below the 52-week high.

Energy stocks in the S&P 500 have gone the longest time since reaching a 52-week, a mark last touched on April 5, followed by materials stocks on April 9.

The largest percentage loss since a 52-week high also came in energy stocks, down 9.7%, followed by communication services at 5.56% (since July 5) and information technology, down 5% (July 10).

Although materials stocks last traded at a 52-week high in April, the group is only down 1.4% since then.

— Scott Schnipper

Check out the companies making headlines in after-hours trading.

• Snowflake — Shares tumbled nearly 7% even after the software company beat quarterly expectations and slightly raised its full-year product revenue guidance. Snowflake reported fiscal second-quarter adjusted earnings of 18 cents per share, higher than the 16 cents per share expected by analysts surveyed by LSEG. Its revenue was $869 million for the period, higher than the $851 million expected by analysts.
• Urban Outfitters — The retailer fell roughly 4% after same-store sales disappointed analysts. Stores for the Urban Outfitters brand that were open for at least a year fell 9.3% in the second quarter, compared to analysts’ expectations of an 8.3% decline. The company’s earnings and revenue beat expectations, meanwhile.
• Zoom Video — Zoom edged 2.7% higher after reporting a strong second quarter and topping guidance estimates. The company posted adjusted earnings of $1.39 per share on $1.16 billion, higher than earnings of $1.21 per share. Zoom also announced that its chief financial officer Kelly Steckelberg is leaving the company.

For more, read here.

— Pia Singh