FBR Capital Remains Sidelined on Gap, Inc. (GPS) Following April Review

Fitch Cuts Gap, Inc. (GPS) to Junk Status

May 11, 2016 9:23 AM EDT

Fitch Ratings has downgraded the Long-Term Issuer Default Rating for The Gap, Inc. (NYSE: GPS)(Gap) to 'BB+' from 'BBB-'. The Rating Outlook is Stable. A full list of rating actions follows at the end of this release.

The downgrade reflects Fitch's reduced confidence in stabilization of sales, expectations of continued gross margin volatility, and belief that Gap will need to continue using real estate actions and large-scale cost reduction programs to protect EBITDA in the face of sales declines. Fitch expects EBITDA to decline to the $2 billion range in 2016 versus $2.3... More

Stifel Cuts Price Target on Gap, Inc. (GPS) Following Weak April Results

May 10, 2016 9:27 AM EDT

Stifel maintained a Buy rating on Gap, Inc. (NYSE: GPS), and cut the price target to $28.00 (from $35.00), following the company's weak April results. The company established 1Q EPS guidance in the range of $0.31-$0.32, well below the consensus of $0.44. Margins will be... More

Wedbush Cuts Price Target on Gap, Inc. (GPS) to $19 Following Weak April

May 10, 2016 7:37 AM EDT

Wedbush maintained a Neutral rating on Gap, Inc. (NYSE: GPS), and cut the price target to $19.00 (from $25.00), following weak April results. GPS reported April SSS of (7)%, well below consensus of +0.5%, driven by disappointing results across all three divisions. Management guided 1Q EPS in the range of $0.31- $0.32... More

Amazon delivers S&P 500 its best day in two months

May 10, 2016 7:21 AM EDT

By Noel Randewich

(Reuters) - U.S. stocks rose across the board on Tuesday, with a jump in oil and a rally in Amazon.com helping propel the S&P 500 to its best day in two months.

Buoyed as well by higher global stock markets, Wall Street's gains appeared to breathe new life into a two-month rally that had petered out in mid-April, and left the S&P 500 with an increase of nearly 2 percent for 2016.

Amazon (NASDAQ: AMZN) jumped 3.43 percent to a record of $703.07, giving the biggest boost to... More

Topeka Capital Downgrades Gap, Inc. (GPS) to Hold

May 10, 2016 6:54 AM EDT

Topeka Capital downgraded Gap, Inc. (NYSE: GPS) from Buy to Hold.

For an analyst ratings summary and ratings history on Gap, Inc. click here. For more ratings news on Gap, Inc. click here.

Shares of Gap, Inc. closed at $21.81 yesterday.

... More

Gap Inc (GPS) PT Reduced to $21 at Piper Jaffray

May 10, 2016 6:51 AM EDT

Piper Jaffray analyst, Neely Tamminga cut her PT on Gap, Inc. (NYSE: GPS) to $21 from $25 after sales comps came in at -7% for April and -5% for the quarter. Management expects FQ1 EPS in the range of $0.31 to $0.32 (vs. consensus of $0.44). No... More

After-Hours Stock Movers 05/09: (STMP) (OPK) (HALO) Higher; (NLNK) (GPS) (BLOX) (RAX) Lower (more...)

May 9, 2016 6:25 PM EDT

NewLink Genetics Corporation (NASDAQ: NLNK) 34.5% LOWER; announced today results of its Phase 3 clinical trial for algenpantucel-L for patients with resected pancreatic cancer. The IMPRESS Phase 3 study of algenpantucel-L for patients with resected pancreatic cancer did not achieve its primary endpoint. Overall survival from time of randomization was 29.3 months for both groups combined. There was no statistically significant difference between the two groups. The median survival was 30.4 months and 27.3 months for the control and study groups, respectively. There was also no statistical difference for long-term survival. Three year survival was... More

Old Navy, Banana Republic weigh on Gap as sales slip yet again

May 9, 2016 4:53 PM EDT

By Subrat Patnaik

(Reuters) - Gap Inc (NYSE: GPS) reported a decline in sales for the fifth straight quarter due to weak demand for its Banana Republic and Old Navy brands as the retailer struggles to woo back shoppers it has lost to fast-fashion retailers.

Gap's shares fell about 12 percent in extended trading on Monday as the company also estimated first-quarter profit below estimates.

Gap has struggled in the past few quarters as a series of fashion misses turned off shoppers amid... More

Gap, Inc. (GPS) Comps Fell 7% in April ; Prelim. Q1 EPS Misses Views

May 9, 2016 4:23 PM EDT

Gap Inc. (NYSE: GPS) announced April net sales were $1.12 billion for the four-week period ended April 30, 2016, compared with net sales of $1.21 billion for the four-week period ended May 2, 2015. For the first quarter of fiscal year 2016, Gap Inc.s net sales were $3.44 billion compared with $3.66 billion for the first quarter last year.

Gap Inc. also announced that it will take steps to better position the company for improved business performance and to build for the future. The company is identifying opportunities to streamline its operating model to be more efficient and flexible, while more fully... More