Jefferies Cuts Price Target on Gap, Inc. (GPS) to $26 Following 1Q Report

UBS Cuts Price Target on Gap, Inc. (GPS) Following In-Line 1Q

UBS maintained a Sell rating on Gap, Inc. (NYSE: GPS), and cut the price target to $16.00 (from $18.00), following the company's 1Q earnings report. GPS reported EPS of $0.32, in line with estimates.

Analyst Michael Binetti commented, "GPS reported an in line 1Q EPS of $0.32,... More

Gap (GPS) PT Lowered to $18 at Nomura

Nomura Securities analyst Simeon Siegel reiterated a Neutral rating and cut his price target on Gap, Inc. (NYSE: GPS) to $18.00 (from $19.00) following results and outlook.

Siegel commented, "Mgmt noted that they were "not reaffirming" FY16 EPS guidance, commenting that the consensus estimate of $1.92 "falls within a reasonable range of potential outcomes," but also noting that trends "would need to improve from 1Q16 in order to achieve this estimate." We have been discussing our... More

Cowen Cuts Price Target on Gap, Inc. (GPS) as Old Navy Pulls Out of Japan

Cowen maintained a Market Perform rating on Gap, Inc. (NYSE: GPS), and cut the price target to $20.00 (from $21.00), following the company's 1Q earnings report. With an eye on ensuring that they are doing business in regions with the most opportunity for profitability,... More

Gap (GPS) 2016 EPS Still At Risk - Wedbush

Wedbush analyst, Morry Brown, sees cost cuts at Gap, Inc. (NYSE: GPS) improving EPS for 2017, but fundamentals of the companys core businesses remain under pressure. 1Q's incremental information was largely centered on meaningful cost cuts, from a combination of closing doors internationally and... More

Mizuho Securities Cuts Price Target on Gap, Inc. (GPS) Following In-Line 1Q

Mizuho Securities maintained an Underperform rating on Gap, Inc. (NYSE: GPS), and cut the price target to $17.00 (from $18.00), following the company's 1Q earnings report. GPS reported EPS of $0.32, in-line with the Streets expectation on already reported comps of (5)%.

Analyst Betty Chen... More

S&P Downgrades Gap, Inc. (GPS) to 'BB+'; Outlook Stable

S&P Global Ratings lowered the corporate credit rating on The Gap Inc. (NYSE: GPS) to 'BB+' from 'BBB-'. The outlook is stable.

We lowered our rating on the company's senior unsecured debt to 'BB+' from 'BBB-' and assigned a '3' recovery rating, which reflects our expectation for meaningful recovery in the event of default at the high end of the 50% to 70% range.

"The rating action reflects the company's continued weakened operating performance, a trend we expect to persist in at least the next 12 months," said credit analyst... More

Gap (GPS) volatility elevated on inline Q1 as shares near five-year low

Gap (NYSE: GPS) is recently up 72c to $18 in the premarket on inline EPS, guidance and sees net closures of about 50 company operated stores in 2016. May call option implied volatility is at 118, June is at 45; compared to its 52-week range of 20 to 62.

Stifel Downgrades Gap, Inc. (GPS) to Hold

Stifel downgraded Gap, Inc. (NYSE: GPS) from Buy to Hold, on challenged fundamentals with little visibility into improvement.

Analyst Richard Jaffe commented, "We are downgrading Gap to a Hold. The various merchandising initiatives management has put in place at Gap division have not resonated with the consumer. Old Navy... More

Gap to close 75 Old Navy, Banana Republic stores outside North America

(Reuters) - Gap Inc (NYSE: GPS) said it would shut 75 Old Navy and Banana Republic stores overseas markets, as the struggling apparel retailer focuses on its North American market to revive its fortunes.

Shares of the San Francisco-based company were up 4.2 percent in after hours trading on Thursday.

The store closures include all its 53 Old Navy outlets in Japan, the company said in a statement.

The company last week warned about store closures after reporting dismal first-quarter sales of its top three brands.

Gap, Inc. (GPS) Reports In-Line Q1 EPS; Plans to Refocus on Key Geographies, Streamline Ops

Gap, Inc. (NYSE: GPS) reported Q1 EPS of $0.32, in-line with the analyst estimate of $0.32. Revenue for the quarter came in at $3.44 billion versus the consensus estimate of $3.51 billion.

Comps fell 5 percent.

As the pace of change across the apparel industry increases, now is the time to accelerate our transformation by scaling our product and operating capabilities across our global portfolio, said Art Peck, chief executive officer, Gap Inc. By taking every opportunity to exploit our strategic advantages, our brands will be able to more fully harness the power of the enterprise to better serve their... More

Straddle prices for companies reporting financial results

Ross Stores (NASDAQ: ROST) May 55 straddle priced for 7% movement into Q1

Gap (NYSE: GPS) May 55 straddle priced for 5% movement into Q1

Deere (NYSE: DE) May 82.50 straddle priced for 4.5% movement into Q2

Foot Locker (NYSE: FL) May 57.50 straddle priced for 6% movement into Q1

Gap (GPS) volatility elevated on active puts into Q1 and outlook

Gap (NYSE: GPS) May call option implied volatility is at 115, June is at 45; compared to its 52-week range of 20 to 62, into the expected release of Q1 results today after the market close.

Gap, Inc. (GPS) Declares $0.23 Quarterly Dividend; 5.4% Yield

Gap, Inc. (NYSE: GPS) declared a quarterly dividend of $0.23 per share, or $0.92 annualized.

The dividend will be payable on July 27, 2016, to stockholders of record on July 6, 2016, with an ex-dividend date of July 1, 2016.

The annual yield on the dividend is 5.4... More

Gap (GPS) volatility elevated on 3.5 puts for every one call as shares near five-year low into Q1

Gap (NYSE: GPS) May call option implied volatility is at 92, June is at 48; compared to its 52-week range of 20 to 62, into the expected release of Q1 results on May 19.