6 Blazing Stocks: Yahoo! Jumps 4%, Kohl’s and Gap Bounce Higher
Yahoo! Inc. (NASDAQ:YHOO) bounced almost 4% before the opening bell. Buyout rumors continue to fuel the stock. Reports explain that Chinese partner Alibaba and others may take a 20% position in the internet portal giant. Competitors include: AOL (NYSE:AOL) and Google (NASDAQ:GOOG).
Kohl’s Corp. (NYSE:KSS) is falling 6.3% in early trading after reporting that sales at stores open at least on year fell 6.2% from last year. Analysts were expecting a 2% rise in sales.
Investing Insights: Did These 6 Tech Savy Stocks Participate in the Rally?
Shares of Kroger Co. (NYSE:KR) jumped 3% after announcing third quarter results. Net income decreased 1% to $195.9 million (33 cents per share), compared to $202.2 million (32 cents per share). On the positive, revenue did increase from $18.7 billion to $20.6 billion. Competitor Wal-Mart (NYSE:WMT) traded lower early Thursday.
Gap Inc. (NYSE:GPS) shares surged 4%, despite announcing that sales at stores open at least one year declined 5%. “This is just the start of the holiday selling season and we expect December to remain fiercely competitive and highly promotional,” said Chairman and Chief Executive Glenn Murphy.
Target (NYSE:TGT) is edging higher after announcing that sales at stores open at least on year increased 1.8%. Analysts were expecting an increase of 2.8%. “November sales were near the low end of our expectations for the month as we compared against very strong performance last year,” said Chairman and Chief Executive Gregg Steinhafel.
Shares of Lululemon Athletica Inc. (NASDAQ:LULU) are getting crushed by 15% this morning. The company reported disappointing sales and a weak outlook. The company also experienced a 77% rise in inventory, which raised eyebrows.