Gap cut its earnings guidance ahead of the crucial holiday shopping season. This comes as the retailer posted profit that topped estimates in its most recent quarter. Sales slipped below expectations and the retailer announced a management overhaul at its Banana Republic and Gap Brands. After the bell shares tumbled. Before the close the stock was 1.5 percent higher, closing at $40.14.
A big miss for GameStop. Not only did the chain report earnings and sales that were way off, it also disappointed with a fourth quarter and full-year profit outlook that trailed consensus. That sent shares down right after the announcement. During regular trading, shares were up a fraction to $43.87.
Dollar Tree posted is best sales growth since 2011, sending shares of the discount retailer higher. The chain beat earnings estimates and hiked its outlook for profit and revenue for the year. This as the company has agreed to buy Family Dollar for $8.5 billion. Shares climbed five percent to $65.87.
Hertz is getting a new Carl Icahn approved CEO. The car rental company named an airline industry vet, John Tague as its new chief. He replaces Mark Frissora who stepped down amid pressure from investors like Icahn over accounting. Shares were volatile after the news. Ahead of that, shares were up 2.5 percent to $22.75.
Alibaba has reportedly tapped into the U.S. bond market. The Chinese internet giant is launching an $8 billion debut bond deal, but it could open up the offering to about $10 billion because of strong demand. Shares rose $1, closing at $109.82.
Investors had a strong appetite for shares of Habit Restaurants. The burger chain made its trading debut on the Nasdaq, pricing five million shares at $18 a piece, valuing the company at nearly $1 billion. Shares more than doubled, closing at $39.54.