Gap, Inc. (GPS) Misses Q3 EPS by 24c, Cuts FY EPS Guidance
- Wall Street closes higher as investors digest earnings, megacap outlook
- JPMorgan is worried about further S&P 500 sell-off potential
- Oil rises as dollar slips, focus shifts to economic data
- China acquired top-end Nvidia AI chips despite recent US ban- Reuters
- SAP Q1 results fall short of Wall Street estimates as transformation kicks off
- Fisker (FSR) Appoints Michael Healy as Chief Restructuring Officer
- Kroger (KR), Albertsons and C&S Wholesale Grocers Announce an Updated and Expanded Divestiture Plan
- Costar Group (CSGP) to Acquire Matterport (MTTR) for $5.50/sh Cash and Stock
- Jaguar Health (JAGX) Files $75M Mixed Shelf
- Apple (AAPL) PT Lowered to $210 at Morgan Stanley, 'We'd buy post-earnings weakness'
- Midday movers: PepsiCo, JetBlue fall; GM, Danaher and UPS rise
- After-hours movers: Cadence Design Systems, Cleveland-Cliffs, Riot Platforms, and more
- Midday movers: Tesla, Li Auto and CNH Industrial fall; Salesforce rises
- Midday movers: Netflix, Super Micro fall; Paramount Global gains
- After-hours movers: Netflix, Intuitive Surgical, Nordstrom, KB Home
Even Yeezy Can't Help: JPMorgan Downgrades GAP (GPS) Shares to Neutral on Poor Q3 Results and Guidance Miss, Stock Down 20%
November 24, 2021 6:03 AM ESTShares of Gap (NYSE: GPS) are down nearly 20% in pre-open Wednesday after the company delivered disappointing Q3 results and guidance.
Gap reported Q3 EPS of $0.27 a big miss compared to the analyst estimate of $0.51. Revenue for the quarter came in at $3.94 billion, again significantly lower than the consensus estimate of $4.47 billion.
Gap is calling for EPS of $1.25 to $1.40, versus the consensus of $2.20.
While we entered the third quarter with growing momentum, acute supply... More
JPMorgan Downgrades Gap, Inc. (GPS) to Neutral
November 24, 2021 5:45 AM ESTJPMorgan analyst Matthew Boss downgraded Gap, Inc. (NYSE: GPS) from Overweight to Neutral with a price target of $22.00 (from $39.00).
The analyst comments "We rate GPS Neutral. We see potential for Old Navy to continue to grow market share across numerous categories (denim,... More