Business news in brief

Urban Outfitters Inc. announced Tuesday that its board of directors authorized the repurchase of 10 million common shares. Under the plan, the Philadelphia retailer can use its discretion in timing the repurchase. The board in August 2013 approved a similar repurchase program for 10 million shares. The company said all of those shares had been repurchased. Shares had closed up 5 cents, at $32.59, before the announcement, and rose again in after-hours trading. - Chris Hepp

First Savings Bank of Perkasie, a mutual savings bank in Bucks County, said it bought Longview Capital Management L.L.C., a Wilmington registered investment adviser with $270 million in assets under management and administration. The price was not disclosed. First Savings, with 11 branch offices, had $677 million in deposits and $611 million in net loans outstanding on March 31, according to its latest Federal Deposit Insurance Corp. report. First Savings said that Longview would combine with EagleView Capital, its existing wealth management operation, which has about $320 million in assets under management, according to First Savings CEO Frederick Schea. - Harold Brubaker

Aramark, of Philadelphia, announced a secondary stock offering in which existing shareholders, including chairman Joseph Neubauer, intend to sell up to 23 million shares. The offering is subject to market and other conditions and none of the shares will be sold by Aramark. The announcement by the provider of food and facility services came after markets closed. Company shares had closed down 48 cents, to $26.11. - Reid Kanaley

Triumph Group Inc., the Berwyn-based aircraft-parts conglomerate, said it agreed to pay about $70 million for three GE Aviation hydraulic aircraft systems factories: in Yakima, Wash.; Cheltenham, England; and the Isle of Man, a British tax haven in the Irish Sea. The plants' annual sales total $180 million, to buyers including Boeing Co. and Airbus Group. They employ about 475, including managers that Triumph says "will remain." - Joseph N. DiStefano

Spark Therapeutics, a Philadelphia company developing gene-based medicines, said it raised $72.8 million from investors led by Sofinnova Ventures and including Brookside Capital, Deerfield Management Co., Rock springs Capital, Spark cofounder Children's Hospital of Philadelphia, and others. Spark's lead gene-therapy candidate, for blindness caused by inherited retinal dystrophy, is in Phase 3 clinical trials. - Reid Kanaley

European Central Bank President Mario Draghi said he was mindful of the danger of inflation remaining low in the 18-country eurozone and was committed to bringing it back to more tolerable levels. The central bank is widely expected to offer some monetary stimulus at its next policy meeting June 5. The inflation rate among countries using the shared euro currency has been below 1 percent since October. The ECB's inflation target is 2 percent. Low inflation makes debt reduction more difficult for people and governments. - AP

Independent booksellers may never regain the stature of the pre-digital, pre-superstore era, but their presence continues to grow. The American Booksellers Association, the independents' trade group, said core membership had increased to 1,664, up from 1,632 last year and more than 200 higher since 2009. It's the fifth straight increase for an organization that was losing members for decades and seemed in danger of permanent shrinkage under the combined pressures of Amazon.com, Barnes & Noble Inc., discount clubs, and a weak economy. - AP

A nonprescription version of Nexium, the most popular medicine for frequent, severe heartburn, has just gone on sale, drugmaker Pfizer Inc. said. The nonprescription version is a 20-milligram dose of "the purple pill," known chemically as esomeprazole. In 2012, Pfizer acquired exclusive worldwide rights to nonprescription Nexium from maker AstraZeneca P.L.C. The British drugmaker got a payment of $250 million and will receive royalties and other payments based on the level of sales. Over the last month, Pfizer repeatedly courted AstraZeneca, offering as much as $119 billion to buy the company. After repeated rebuffs, Pfizer ended its pursuit Monday. - AP

Tesla Motors Inc., the electric-car company, was assigned a credit rating by Standard & Poor's that is six levels below investment grade. The unsolicited B- ranking reflects a business "constrained by Tesla's niche and independent market position," S&P said. California-based Tesla has a smaller scale relative to peers, a narrower product focus, and limited demand for its products, S&P said. - Bloomberg News