Yahoo Finance Gap sinks on sales; LinkedIn downgraded; Ulta Salon set to join S&P 500
Gap, LinkedIn, Ulta Salon, Facebook, FedEx, Southwest Airlines, Under Armour, Twitter, Qualcomm
Gap (GPS) – The retailer reported sales for stores opened at least a year fell 6% in March, calling the month "challenging.” Gap also warned that excess merchandise is expected to “pressure its gross margin rate” for the first quarter.
LinkedIn (LNKD) – MKM Partners downgraded the stock from buy to neutral, citing concerns that growth in online job postings may have peaked. The firm also lowered its price target by $20 per share to $130.
Ulta Salon (ULTA) – MKM Partners downgraded the stock from buy to neutral, citing worries that online job postings having peaked. The firm also cut the stock’s price target by $20 per share to $130.
Facebook (FB) – Credit Suisse (CS) added the social network to its top picks in the internet space. The bank has a price target of $140 per share, implying a 23% upside for the stock.
FedEx (FDX) – Citi is bullish on FedEx, seeing a 12% upside for the stock. The bank has a $180 price target on the stock.
Southwest Airlines (LUV) – Credit Suisse named Southwest Airlines its top airline pick. The investment firm has a $54 price target on the stock, implying a 54% upside.
Under Armour (UA) – The company has undergone a 2-for-1 split after issuing Class C shares to existing shareholders.
Twitter (TWTR) – The social network appointed PepsiCo CFO Hugh Johnston and LastMinute.com founder Martha Lane Fox to its board. Twitter announced the move in a regulatory filing.
Qualcomm (QCOM) – The chip company declared a $0.53 quarterly dividend, which is a 10% increase from the prior dividend of $0.48. It will be payable June 22 for shareholders on record June 1.
