Yahoo Finance Elon Musk's SolarCity crashes; Gap drops on weak sales; Amazon hits all-time high
Midday stock movers: today's big winners and losers
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SolarCity (SCTY) – The company reported a wider-than-expected loss and gave disappointing guidance. It expects sales of $135 million to $143 million in the second quarter, versus analysts’ forecast of $151 million.
Gap (GPS) – The retailer reported that sales dropped 7.4% to $1.12 billion in April, versus $1.21 billion last year. Sales for the first quarter also declined to $3.44 billion compared to $3.66 billion one year ago.
Amazon (AMZN) – The online retail giant is expanding its effort to transform itself to a multimedia powerhouse. Shares touched an all-time high following news that it's launching its own user video upload service, putting it in more-direct competition with Google’s YouTube.
J.C. Penney (JCP) – Jefferies initiates coverage on the retailer with a hold rating and a price target of $9. J.C. Penney will report its results for the first quarter this Friday, May 13.
Lumber Liquidators (LL) - The company reported first-quarter EPS of -$1.20, missing analysts' estimates by $0.96. Revenue was $233.51M, down -10.2% year-over-year.
Allergan (AGN) – The drug maker announced plans to buy back up to $10 billion in stock after completing the $40 billion sale of its generics business to Teva Pharmaceutical Industries. Allergan also reported first quarter results of $3.04 earnings per share on $3.80 billion in revenue.
Disney (DIS) – The company will report fiscal second quarter earnings after the bell. Analysts expect "Zootopia" to boost growth for studio entertainment while investors remain concerned about the strength of ESPN. Disney is expected to report a profit increase of 13% from the same period last year.
