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Stock Market & Financial Investment News

News Breaks
August 22, 2014
07:38 EDTGPSGap well positioned for upside, says UBS
UBS said Gap is well positioned for second half upside citing its Omni-channel advantage, shift to higher margin businesses, increased square footage, and modestly positive cops driven by ecommerce. Shares of Gap are Buy rated with a $50 price target.
News For GPS From The Last 14 Days
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November 25, 2014
10:10 EDTGPSJanney to hold a field trip
Janney Montgomery Holiday Mall Tour is being held at Tysons Corner, Virginia on November 25.
November 24, 2014
05:07 EDTGPSGap, Zalando announce Pan-European partnership
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November 21, 2014
16:20 EDTGPSOn The Fly: Closing Wrap
Stocks on Wall Street gained after China's central bank cut interest rates for the first time in over two years to bolster its economy. Additionally, the head of Europe's central bank said he was determined to do what is needed to ensure the area's economy does not once again fall into crisis. ECONOMIC EVENTS: In the U.S., the Kansas City Fed manufacturing index for November had a reading of 7, compared to the consensus forecast for a reading of 6. In Asia, the People's Bank of China unexpectedly cut interest rates, slashing the one-year lending rate by 40 basis points and the one-year deposit rate by 25 basis points. The move, which was the central bank's first interest rate cut since 2012, surprised markets around the globe. In Europe, European Central Bank President Mario Draghi said indicators have been declining to levels he would deem "excessively low" and that he is determined to use more aggressive measures, such as large scale asset purchases, as needed. COMPANY NEWS: Microsoft (MSFT) was the worst performer on the Dow after Jefferies initiated coverage of the stock with an Underperform rating. Microsoft's stock has rallied 30% in the last year, but the company is still facing the same fundamental problems as in previous years, Jefferies analyst John DiFucci wrote. He set a $40 price target on the shares, which slipped 74c, or 1.5%, to $47.97. MAJOR MOVERS: Among the notable gainers was Ross Stores (ROST), which advanced $6.06, or 7.28%, to $89.27 after the company reported stronger than expected Q3 results. Also higher were shares of Caterpillar (CAT), which rose $4.36, or 4.27%, to $106.45 amid the quantitative easing actions taken abroad and after research firm Stifel initiated coverage of the stock with a Buy rating. Among the noteworthy losers was GameStop (GME), which sunk $5.68, or 13.05%, to $37.86 after the video game retailer's third quarter results, as well as its fourth quarter and full year profit forecasts, trailed consensus estimates. Also lower were shares of The Gap (GPS), which dropped $1.68, or 4.19%, to $38.46 after the owner of Banana Republic, Old Navy and its namesake clothing brand lowered its fiscal year profit outlook. INDEXES: The Dow rose 91.06, or 0.5%, to 17,810.06, the Nasdaq gained 11.10, or 0.24%, to 4,712.97, and the S&P 500 added 10.75, or 0.52%, to 2,063.50.
13:20 EDTGPSOn The Fly: Midday Wrap
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06:24 EDTGPSGap says Jeff Kirwan to become global president for Gap brand in December
Gap yesterday announced the promotion of two current executives, with 35 years of combined company experience between them, to become global brand presidents for Gap and Banana Republic. The moves were orchestrated by Art Peck as he prepares to take on the role of CEO of Gap Inc. in February, with the full support of current chairman and CEO Glenn Murphy. Jeff Kirwan, who has reported to Murphy for the past three years as president of greater China for Gap Inc., will become Global President for Gap brand in December following a brief transition period. Kirwan succeeds Stephen Sunnucks, who will leave the company on December 19, after steering the growth of its namesake brand to almost 50 countries over the past decade. Andi Owen, 49, who currently leads the Gap Outlet division, will become Global President for Banana Republic, effective January 5. She succeeds Jack Calhoun, who will depart from the company on February 1 after working with Owen during the transition.
November 20, 2014
18:21 EDTGPSOn The Fly: After Hours Movers
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16:06 EDTGPSGap down 3% after lowering FY14 EPS guidance
16:05 EDTGPSGap now sees FY14 operating margin to be about 12.5%
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16:03 EDTGPSGap lowers FY14 EPS view to $2.73-$2.78, consensus $2.82
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16:01 EDTGPSGap reports Q3 EPS with benefit 80c, consensus 79c
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15:51 EDTGPSGap technical remarks before results
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15:28 EDTGPSNotable companies reporting after market close
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