Posts Tagged ‘gap inc’

Retail Earnings Previews: Gamestop (GME), Sears Holding (SHLD) and Gap (GPS)

Posted by Michael on November 18th, 2009

wall-streetWe have three big name stocks due to report earnings tomorrow. Here is a quick glance at what Wall Street is expecting to see.

1. Gamestop (NYSE: GME): The video game retailer is due to report its third quarter numbers tomorrow morning before the opening bell. Analysts are expecting the company to show earnings of 30 cents per share. For the same period last year, the company had earnings of 34 cents per share. The stock is trading up 0.6% on the day.

2. Sears Holding (NASDAQ: SHLD): The retailer is going to be reporting its third quarter numbers tomorrow, and analysts are expecting to see a loss of $1.09. For the same period last year the company had a loss of 90 cents a share. The stock is trading down 1.2% on the day. The company will be reporting its numbers before the market opens.

3. Gap Inc. (NYSE: GPS): The clothing retailer is going to be reporting its third quarter results tomorrow, and Wall Street is looking to see the company show 44 cents per share. For the same period last year the Gap had earnings of 35 cents per share. The stock is trading down 0.8% in today’s market.

A big day for retailers, and will give us a better view of just how strong the current recovery actually is.

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General Electric and Bank of America pull down the market

Posted by Michael on October 16th, 2009

bearThe market closed in the red today, as poor earnings from General Electric (NYSE: GE) and Bank of America (NYSE: BAC) brought out the bears.

The DOW closed the session down 0.67%, the NASDAQ ended the day down 0.76%, while the S&P slipped by 0.8%.

General Electric started off the day off on a bad note when the company reported revenues that came up short of analyst estimates. GE was able to outpace analyst estimates for its earnings in the third quarter by posting 23 cents per share verse analyst estimates of 20 cents per share, but that was not enough to outweigh its missed revenues. The company reported $37.8 billion in revenues verse analyst estimates for $40.3 billion. Shares of GE closed the day down 4.2% to $16.08, down $0.71 on the day and wiping out $7.5 billion in market capitalization.

Bank of America was expected to show a loss for its third quarter of 21 cents per share, but the actual numbers came in worse than expected with a 26 cent loss in the quarter. The stock was hit hard today following the report, with shares falling 4.6% to $17.26, down $0.84 on the day.

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New 52 Week Highs:

There were several big name stocks that were able to set new 52 week highs today, despite the down market and include the following; Pfizer (NYSE: PFE), Halliburton (NYSE: HAL), Hewlett-Packard (NYSE: HPQ), and Mattel (NYSE: MAT).

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Analyst upgrades and downgrades:

Stocks upgraded today include:

  • Gap Inc. (NYSE: GPS) upgraded by Caris to Buy from Above Average with $27 price target
  • Safeway (NYSE: SWY) upgraded by Kevin Dann to Buy from Neutral and boosted its price target on the stock to $27 from $19 per share.
  • Google (NASDAQ: GOOG) received an upgrade today by Benchmark Co. to a Buy from Hold, while lifting its price target on the stock to $625 from $500.

Stocks downgraded today include:

  • Netflix (NASDAQ: NFLX) downgraded by Caris to Above Average from Buy with a $56 price target on the stock.
  • Nokia (NYSE: NOK) downgraded by Gabelli to Hold from Buy.

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