Urban Outfitters, Inc. TGIF to the tune of 5% (NASDAQ:URBN)

Urban Outfitters, Inc. (NASDAQ:URBN) shares increased a total of 5% (including after-hours) on Friday after it was announced the company has officially joined the S&P 500.

Standard & Poor's said late Friday that retailer Urban Outfitters Inc. (URBN)  will replace Affiliated Computer Services Inc. (ACS) on the S&P 500. 

Urban Outfitters also got an upgrade from FBR, the firm upgraded URBN to outperform from market perform by FBR, citing belief that the company could return to sustainable positive same-store sales trends in 2010.

Urban Outfitters, Inc. is a lifestyle specialty retail company that operates under the Urban Outfitters, Anthropologie, Free People and Terrain brands. The Company also operates a wholesale segment under the Free People and Leifsdottir brands. In addition to its retail stores, the Company offers its products and markets its brands directly to the consumer through its e-commerce Websites, www.urbanoutfitters.com, www.anthropologie.com, www.freepeople.com and www.urbanoutfitters.co.uk, and also through its Urban Outfitters, Anthropologie and Free People catalogs.